Source Credit: Saudi Gazette
The second day of the LEAP 25 conference, more than $7.5 billion in investments in AI and technology were made. On the first day of the conference, almost $14.9 billion in investments were announced.
Key investments and announcements
- A $5 billion partnership between NEOM and Datavolt will build a sustainable AI data center in OXAGON. The data center will be 1.5 gigawatts in capacity.
- Mobily: A $911 million investment in strategic initiatives to improve digital infrastructure. This covers the construction of data centers and underwater cables in Saudi Arabia.
- Alfanar Company: A $1.4 billion investment to build four 88 gigawatt data centers to assist the expansion of the digital economy.
- Zoom $75 million will be used to build new data centers, advance AI, and foster innovation. Supporting Saudi Arabian government organizations and technological enterprises is the aim.
- $51 million private fiber optic network investment was made by Saudi Arabian Railways (SAR).
Six hundred companies, 1,000 speakers, and more than 1,800 technology exhibitors makeup LEAP, one of the biggest technology events in the world. Over 20 technology tracks are available at the conference, including ones on sports, health, smart cities, and finance.
