Infra and HUMAIN sign $667m financing for Saudi AI data centres

Riyadh, Saudi Arabia - The National Infrastructure Fund (Infra) and HUMAIN have signed two financing agreements worth up to $667 million (SAR 2.5 billion) to fund AI computing and the power infrastructure needed for data centres in Saudi Arabia.

HUMAIN, a Public Investment Fund (PIF) company, supplies AI across the full technology stack to customers worldwide. Both sides made the announcement on 9 November.

The documents were signed a day earlier in Riyadh, the Saudi Press Agency reported. Witnessing the ceremony were PIF Governor Yasir Al-Rumayyan, National Development Fund Governor Abdulaziz Alarifi and Faisal bin Fadhil Alibrahim, who is Minister of Economy and Planning and chairs Infra’s board.

The two facilities are the first deals Infra has announced under its AI Data Center Financing Program.

They follow a strategic financing framework the pair unveiled at Davos in January 2026. That document set out non-binding terms of up to $1.2 billion (SAR 4.5 billion) for digital and AI projects across the country.

HUMAIN’s January announcement said those terms applied to as much as 250 MW of hyperscale capacity that the company plans to build. The partners also said then that they would look at creating a joint investment platform for AI data centres.

Of the new money, up to $293.3 million (SAR 1.1 billion) sits in a GPU facility. It will pay for buying and installing graphics processors, about 25 MW of IT load in total.

The larger facility, of up to $373.3 million (SAR 1.4 billion), will pay for the substations, transmission lines and links to the grid that HUMAIN’s AI data centres in the Kingdom need.

The partners said this planned network is sized for as much as 1 GW of IT capacity for future data centres, and that it will help create the conditions for developers, hyperscalers and institutional investors to commit capital.

Eng. Esmail bin Mohammed Alsallom, Chief Executive Officer of Infra, said: “Through these agreements, we aim to unlock investment well beyond Infra’s own commitment. Supporting HUMAIN’s computing deployment alongside essential power infrastructure helps prepare a broader pipeline of data center projects for investment.”

“Our role is to strengthen project readiness and bankability, with commercial viability and economic value guiding how we deploy our capital. This partnership connects our priorities with commercial discipline, helping build a financing market that can attract a broader pool of private and institutional capital and sustain the local AI infrastructure growth,” he added.

Infra sits under the National Development Fund (NDF) and calls itself the Kingdom’s lead development finance partner for infrastructure. Alongside banks, investors, developers and state bodies, it offers money and advice so that projects become easier to finance, reach financial close and attract more private capital.

Tareq Amin, Chief Executive Officer of HUMAIN, said: “AI infrastructure is becoming foundational to the next generation of computing, and scaling it requires both significant investment and the infrastructure to support it.”

“These facilities with Infra will help accelerate the deployment of advanced computing capacity and the power infrastructure required to support it. At HUMAIN, we are focused on building and operating AI infrastructure at scale, while developing the technologies and platforms that enable organizations and customers globally to put AI to work,” he added.

HUMAIN has also partnered with DataVolt on a 100MW AI data centre at NEOM.