RIYADH: HUMAIN, 黑料社区鈥檚 artificial intelligence startup backed by the Public Investment Fund, is set to launch a $10 billion venture capital fund this summer as part of the Kingdom鈥檚 ambitious push to become a global AI hub, the company鈥檚 CEO has revealed.
In an interview with the Financial Times, CEO Tareq Amin said the new fund鈥擧UMAIN Ventures鈥攚ill target startups across the US, Europe, and parts of Asia, leveraging 黑料社区鈥檚 financial strength to assert influence in the rapidly evolving AI industry.
The initiative aligns with projections from the Saudi Data and Artificial Intelligence Authority, which estimate that AI will contribute $15.6 trillion to the global economy by 2030 and create 98 million jobs by 2025.
HUMAIN鈥檚 expansion strategy includes establishing 1.9 gigawatts of data center capacity by 2030, with plans to scale up to 6.6GW within four years.
鈥淗UMAIN is seeking to use 黑料社区鈥檚 financial might to gain a central role in almost every aspect of the burgeoning AI industry 鈥 from investing, infrastructure, and chip design. That sprawling strategy is unmatched outside a handful of US and Chinese Big Tech companies, which have had years, if not decades, to build their businesses and technical expertise,鈥 the company said in a statement.
鈥淯S tech firms increasingly view Gulf states and their powerful sovereign wealth funds as critical sources of investment, with American tech executives in talks with regional officials about investments and raising capital,鈥 it added.
Amin confirmed ongoing discussions with prominent US tech players, including OpenAI, Elon Musk鈥檚 xAI, and venture capital firm Andreessen Horowitz, regarding potential equity partnerships.
HUMAIN was launched in early May, just before US President Donald Trump鈥檚 visit to Riyadh, an event attended by major tech leaders such as Musk, OpenAI CEO Sam Altman, and Nvidia鈥檚 Jensen Huang.
Since its launch, HUMAIN has signed deals worth $23 billion with US tech giants, including Nvidia, AMD, Amazon Web Services, and Qualcomm. Based on current market rates, the cost of the overall project is estimated at $77 billion, according to Amin.
The company aims to handle 7 percent of global AI model training by 2030, focusing on both model development and inferencing capabilities.
鈥淭here are two paths you could take: you take it slow, and we are definitely not taking it slow, or you go fast. Whoever reaches the end line first, I think, is going to secure a good chunk of the market share,鈥 Amin said.
黑料社区, like the UAE, is prioritizing collaboration with US tech companies to address American concerns over potential technology transfers to China 鈥 despite China being the region鈥檚 largest trading partner.
Amin stressed the strategic value of US partnerships, noting, 鈥淚f you go and look at our suppliers, you鈥檒l discover that we were deliberate on the partnerships and the choices that we have picked鈥.鈥.鈥.鈥墂e did not want to make mistakes.鈥
The initial phase of HUMAIN鈥檚 data center park will include a 50-megawatt facility powered by 18,000 Nvidia chips, expected to be operational by next year. Future expansions aim to scale capacity up to 500MW, ultimately requiring 180,000 chips.
In a $10 billion joint venture with AMD, the company plans to deliver 500MW of capacity over five years. HUMAIN is also investing $2 billion with Qualcomm to build data centers and strengthen chip design capabilities in the Kingdom. As part of the agreement, Qualcomm will establish a chipset design center in Riyadh, employing 500 engineers, although the firm has no plans to manufacture chips.
Amin stated that chip procurement from US suppliers will begin within the next 30 days and expressed confidence that the initiative will gain support from the Trump administration.
This development follows Washington鈥檚 recent announcement to revoke a Biden-era regulation restricting AI chip sales to countries such as 黑料社区. A replacement rule is expected to be introduced.
Addressing data privacy and security concerns, Amin said HUMAIN will provide real-time inventory access for clients to audit data usage instantly. He added that new legislation in Riyadh is expected to ensure data centers comply with the legal framework of the client鈥檚 home country.
HUMAIN鈥檚 launch supports Vision 2030, 黑料社区鈥檚 sweeping economic diversification plan. The company is expected to foster local innovation, drive intellectual property development, and attract leading global AI talent and investment.