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RIYADH: Artificial intelligence company Humain has reached an agreement with AirTrunk that will see a $3 billion investment for a data center campus in ����ֱ��.

The Public Investment Fund-owned firm will work with the Asia-Pacific company, which is backed by the world’s largest alternative asset manager Blackstone and Canada Pension Plan Investment Board.

Under the deal, Humain will lead ����ֱ��’s efforts to deliver large-scale AI-ready infrastructure, while Blackstone and AirTrunk will bring global expertise, operational excellence and investment capacity. 

The deal aligns with Humain’s mandate to position the Kingdom as a global leader in artificial intelligence and reinforces its commitment to building best-in-class digital and AI infrastructure.

“Together with AirTrunk and Blackstone, Humain is strengthening the technological infrastructure that underpins the Kingdom’s digital economy,” said Tareq Amin, CEO of Humain. 

Amin further said that this partnership also marks a pivotal moment in creating scalable, secure, and sustainable data center capacity to support the rapid growth of AI and cloud computing in ����ֱ��. 

“This initiative not only accelerates ����ֱ��’s technological advancement but also establishes a platform for long-term economic diversification and global competitiveness,” added Amin. 

Under the scope of the partnership, both Humain and AirTrunk will cooperate across several key areas, including data center design, construction, and operation; financing through equity and debt; and go-to-market initiatives to attract hyperscalers and enterprise clients.

The partnership will also focus on developing local talent and capabilities, supporting ����ֱ��’s ambition to build a globally competitive and sustainable digital ecosystem.

“Our strategic partnership with Humain, a key player in the region, will support ����ֱ�� to realize its vision of being a data- and AI-driven economy,” said Robin Khuda, founder and CEO at AirTrunk. 

He added: “This announcement strengthens the AirTrunk data center platform as we deliver world-class digital infrastructure for the cloud and AI across the Asia Pacific and now the Middle East, which is one of the fastest growing regions in the world.” 

Stephen Schwarzman, chairman, CEO and co-founder of Blackstone, said that the company continues to bring scale and expertise across the AI ecosystem as the largest provider of data centers globally and a significant investor in related services and infrastructure.

Schwarzman added: “This initiative reinforces Blackstone’s position as one of the world’s leading investors in digital infrastructure and marks a commitment to deepening our presence in the Middle East.”

RIYADH: Alat, a subsidiary of ����ֱ��’s Public Investment Fund, is preparing to start manufacturing personal computers and servers at its new facility in Riyadh, the company’s CEO told Asharq Business.

Speaking on the sidelines of the Future Investment Initiative conference, Amit Midha said production will begin once the facility becomes operational, with smartphones expected to follow at a later stage. 

The factory, developed under Alat’s partnership with Lenovo, will serve as a key component of ����ֱ��’s strategy to localize high-tech manufacturing. 

“We are going to have our first factory opened later this year, right here in Riyadh. And that will manufacture personal computers, smartphones and servers. Smartphones will be next year, but PCs and servers will start this year,” Midha said.

He also highlighted Alat’s €160 million ($186 million) joint venture with TKE, which aims to produce elevators and escalators in ����ֱ�� by 2026. 

“They (TKE) have elevators that can go both vertically and horizontally. So, if you have a big event or concert, we can really move people into the other tower and then get them down. And in the horizontal scenario, Neom has a lot of applications as well,” added Midha. 

The partnership with TKE also aligns with projections that ����ֱ��’s elevator and escalator market will reach $1.84 billion by 2030, according to Markets and Data. 

Launched in 2024, Alat seeks to localize production across strategic sectors including semiconductors, smart devices, advanced industrials, and next-generation infrastructure, targeting an addition of about $9.3 billion to the Kingdom’s non-oil gross domestic product by 2030. 

Midha added that Alat is also developing projects in AI infrastructure, electrification, and energy transition. 

“We have a business unit focused on AI infrastructure; whether it is electrification, servers, networking switches, cabling, testing, all of that a business unit does. And in that aspect, we support everything that is happening in the Kingdom. Whether it is Humain, Datavolt, STC and others, to support their AI journey,” Midha said. 
 
He added: “Why would we be importing all the products, when you can manufacture them, bring the supply chain, and develop the talent along the way. And that is the objective around AI infrastructure.”