At the LEAP 2025 tech conference in Riyadh, a flurry of investments and strategic initiatives were unveiled, further solidifying Saudi Arabia’s ambition to become a global leader in digital transformation and innovation as part of its Vision 2030 goals.
On the second day of the conference, deals totaling $7.5 billion were announced, marking a significant milestone for the Kingdom’s tech sector. Investments primarily focused on data centers, AI-driven infrastructure, and next-generation connectivity solutions.
Key Deals and Investments:
- DataVolt’s $5 Billion Investment
The most prominent announcement was from DataVolt, which revealed a $5 billion investment in a world-first net-zero 1.5-gigawatt data center to be located in NEOM’s Oxagon. This investment is seen as a crucial part of the Kingdom’s commitment to sustainable urban development, building on previous investments in green hydrogen and renewable energy projects. - Mobily’s $900 Million Investment
Mobily announced plans to invest over $900 million in the expansion of data centers, submarine cables, and cross-border connectivity infrastructure. CEO Salman bin Abdulaziz Al-Badran highlighted that the firm would deploy 39 megawatts of data center capacity, with 13 megawatts already completed and expected to go commercial by the end of Q1. The submarine cable investments are aimed at enhancing connectivity across the region, linking Africa, the Gulf, and the Red Sea. - Alfanar’s $1.4 Billion Investment
Alfanar unveiled a significant $1.4 billion investment in the construction of four new data centers across two cities. This effort is part of the company’s broader strategy to contribute to Saudi Arabia’s digital transformation and expand its role in the country’s technology landscape. - Zoom and SkyFive’s Expansions
Zoom committed to a $75 million investment in Saudi Arabia, with plans to establish a new data center in Riyadh. SkyFive Arabia also announced an initial $100 million investment to expand in Saudi Arabia, Turkey, and South Africa, with the goal of providing high-speed, broadband-like connectivity to over 1,000 aircraft. - Hewlett Packard Enterprise’s Localization Efforts
Hewlett Packard Enterprise (HPE) made a significant move to localize production in Saudi Arabia, announcing plans to manufacture over 20,000 Aruba networking units annually, improving the country’s supply chain efficiency by 30%. - Saudi Arabia Railways (SAR)
Saudi Arabia Railways (SAR) revealed that it had obtained a license from the Communications, Space, and Technology Commission to lease telecom infrastructure commercially, significantly boosting the country’s fiber optic and telecom tower network.
Reinforcing Vision 2030 Goals: These announcements are part of Saudi Arabia’s broader effort to strengthen its position as a technology and innovation hub. Over the past three years, more than $30 billion has been invested in the Kingdom’s tech sector. LEAP 2025 further emphasizes this vision with an additional $14.9 billion announced on the first day of the conference.
Saudi Arabia’s AI and Digital Ambitions: Haytham Al-Ohali, Vice Minister of Communications and Information Technology, underscored the growing significance of the LEAP event, noting the Kingdom’s commitment to becoming a global leader in artificial intelligence (AI) and connectivity. He highlighted the country’s efforts to democratize AI, aiming to make it accessible to more than 4 billion people, and emphasized Saudi Arabia’s ongoing efforts to harness the power of cutting-edge technology to drive its Vision 2030 initiatives.
Looking Ahead: As LEAP 2025 continues until February 12, the conference has positioned Saudi Arabia at the forefront of the digital revolution, attracting industry leaders, investors, and innovators from around the globe. With these groundbreaking investments and collaborations, the Kingdom is firmly on track to become a technological powerhouse in the Middle East and beyond.
