Saudi Arabia announced $15 billion in planned technology investments and strategic commitments at the LEAP 2026 conference, which began on Monday. The event, delayed by four months due to the Iran war, showcased the kingdom’s ambitions to become a leading AI hub in the Gulf. Key deals include San Francisco-based Together AI partnering with Saudi-backed HUMAIN to build a 250 MW AI data center expected to generate over $5 billion in annual revenue in its first year, according to fortune.com.
The conference highlighted several major partnerships, such as Amazon Web Services expanding its collaboration with HUMAIN to provide up to 50 MW of capacity in Saudi Arabia’s first AI Zone by 2028. Elon Musk’s xAI also revealed plans to establish its first data center outside the U.S., initially targeting 50 MW before scaling to 500 MW. LEAP 2026 attracted senior leaders from global tech companies including NVIDIA, Google, Roblox, Uber, Meta, Lenovo, Nokia, and Luma AI, underscoring the kingdom’s growing role in the regional AI race, per fortune.com.
Saudi Arabia’s $15 billion tech deals position Riyadh as a strong competitor to Gulf neighbors like the UAE, which has also been investing heavily in AI infrastructure. The scale of these commitments reflects the kingdom’s strategy to accelerate its digital economy and attract global technology firms. The involvement of major cloud and AI companies signals a shift in the Gulf’s technology landscape, with Saudi Arabia aiming to capture a significant share of the AI market in the Middle East, according to fortune.com.
LEAP 2026 marks a pivotal moment for Saudi Arabia’s tech ambitions, with the kingdom set to operationalize its AI Zone by 2028. The planned data centers and partnerships are expected to drive substantial economic growth, with Together AI’s facility alone projected to yield over $5 billion in gross annualized revenue in its first year, as reported by fortune.com.