Riyadh - Mubasher: Saudi and international companies announced tech investments at a combined value of $14.85 billion on the first day of the LEAP 2025 conference, which is taking place during 9-12 February.
Aramco Digital, a subsidiary of Saudi Aramco, and Groq announced joint investments valued at $1.50 billion investment to foster AI-powered cloud computing.
Meanwhile, Riyadh-based Alat and Lenovo plan to inject $2 billion to build an advanced manufacturing and AI-based tech centre in Saudi Arabia.
Global Investments
American cloud-based software firm Sales Force aims to invest $500 million in building the Hyperforce platform to serve the Kingdom’s customers in the region.
Databricks unveiled investments amounting to $300 million in building integrated platform as a service (PaaS) services to enable application developers to innovate.
In partnership with GDH, KKR announced an investment in developing data centres with capacities of up to 300 megawatts (MW).
Tencent Cloud revealed a $150 million investment to launch the region’s first AI-powered cloud.
Moreover, Alibaba Cloud launched the AI empowerment programme in the Kingdom and cooperated with the Tuwaiq and STC academies to train national talent.
This is in addition to qualitative investments in digital infrastructure and AI and rounds for startups worth more than $10.90 billion.
Read More about LEAP 2025
Global tech event LEAP 2025 kicks off in Saudi Arabia
stc partakes as Strategic Partner at LEAP 2025 to boost digital transformation worldwide
Google launches AI-powered digital hub at LEAP 2025
Saudi Arabia represents 50% of region’s digital economy – Al Swaha at LEAP 2025
