Riyadh - Sharikat Mubasher: The second day of LEAP 2025 witnessed a series of groundbreaking investments surpassing $7.5 billion in data centers, submarine, and fiber-optic cable networks.
These investments focused on enhancing digital infrastructure and promoting innovation in artificial intelligence (AI), further establishing Saudi Arabia as a regional hub for technology and innovation, a recent press release unveiled.
The announcements included NEOM and DataVolt’s commitment to invest $5 billion to build the first fully sustainable AI data center in OXAGON, with a capacity of 1.5 GW. This leading-edge facility is expected to become a global hub for advanced computing and innovation.
Alfanar, the global project developer and technology solutions provider, pledged a $1.4 billion investment to develop four data centers, with a total capacity of 88 MW, in a move to support the growth of the digital economy and the development of business solutions in Saudi Arabia.
The leading technology, media, and telecom (TMT) company in Saudi Arabia, Mobily, also committed $911 million to develop key projects, including submarine cable networks and advanced data centers.
Additionally, Zoom pledged $75 million to drive AI innovation and establish new data centers in the Kingdom, strengthening support for tech enterprises and government entities.
Saudi Arabia Railways (SAR) also announced investing $51 million in a private fiber-optic network to enhance digital connectivity and expand the Kingdom’s communications infrastructure.
Moreover, SkyFive unveiled plans to invest $100 million in non-terrestrial network services, focusing on pioneering Advanced Air Mobility solutions.
It is worth noting that the first day of LEAP 2025 saw significant investments totaling $14.9 billion.
LEAP 2025 convenes from 9 to 12 February in Riyadh, with the participation of over 1,800 exhibitors, more than 1,000 speakers, and over 680 startups. It brings together global leaders from the public and private sectors, top innovators, and key stakeholders in tech investment.
Under the theme ‘Into New Worlds,’ this four-day event aims to showcase the latest innovations and facilitate knowledge exchange, expanding business networking and investment opportunities in the tech sector.
