Saudi Arabia’s state-backed AI company Humain has entered preliminary discussions with major private equity firms regarding a multibillion-dollar partnership to develop data centre infrastructure across the kingdom.
The company has held early-stage talks with industry giants, including Blackstone and BlackRock, about potential capital commitments worth billions of dollars, according to Bloomberg.
Humain, established in May and owned by the $1 trillion Saudi Public Investment Fund, represents a central component of the kingdom’s artificial intelligence strategy under Crown Prince Mohammed bin Salman’s Vision 2030 economic diversification plan.
Blackstone Chief Executive Steve Schwarzman has personally participated in discussions, underscoring the strategic importance of the potential transaction for the alternative investment firm. However, no final agreements have been reached regarding partnership structure or financial commitments.
The Saudi AI venture recently commenced construction on its initial data centres within the kingdom, with operations scheduled to begin in early 2026. The company aims to deploy 1.9 gigawatts of data centre capacity by 2030.
Humain has secured partnerships with technology companies, including Qualcomm and Cisco Systems, whilst pursuing semiconductor procurement from US manufacturers such as Nvidia. The firm is also conducting early discussions with Elon Musk’s xAI regarding potential data centre development in Saudi Arabia.
The company’s investment arm, Humain Ventures, launched a $10 billion fund during the summer and has begun capital deployment across AI-related opportunities.
The potential partnership highlights the increasing significance of Middle Eastern sovereign wealth funds in financing capital-intensive AI infrastructure projects. Regional investment authorities have committed substantial resources to US technology ventures, with Qatar Investment Authority participating in Anthropic’s recent $13 billion funding round.
Abu Dhabi’s MGX fund has supported various AI initiatives, including backing for OpenAI and xAI, whilst collaborating with BlackRock and Microsoft on a $30 billion infrastructure development programme.
Despite challenges from lower energy prices and reduced foreign investment affecting other aspects of Vision 2030, Saudi officials remain committed to supporting Humain’s expansion efforts.
