Riyadh - Sharikat Mubasher: LEAP 2024 investments are expected to surpass $11.9 billion, Abdullah Alswaha, Saudi Minister of Communication and Information Technology announced during his speech at LEAP 2024.
He clarified that these investments are powered by partnerships with global tech giants such as Amazon Web Services (AWS) and IBM.
ServiceNow, the global software company, also announced investing $500 million to launch its first data center in the region in Saudi Arabia to localize its services.
Additionally, Datavolt announced investing $5 billion to build a sustainable and innovative data center with a capacity of more than 300 MW.
Dell Technologies further unveiled plans to open the first manufacturing and fulfillment center in the Middle East, Turkey, and Africa (META) region in Saudi Arabia.
Alswaha noted that the Kingdom took a momentum leap in the digital transformation, having the best technology environment to develop the entire sector.
Commenting on the partnership with AWS, Alswaha said: “The kingdom today is the only nation in the region that has all hyperscalers.”
LEAP 2024 gathers the global technology ecosystem and showcases government artificial intelligence (AI) initiatives and the latest innovations.
More than 600 exhibiting startups, over 1,800 global exhibitors, and around 1,600 investors from more than 72 countries with combined assets under management (AUM) of $4.89 trillion are expected to participate in LEAP 2024.
LEAP 2024 includes a thought-leadership conference and a series of sector-dedicated tracks, trainings, live demos, innovation sessions, and startup pitches, in addition to an exhibition featuring the world’s top tech companies from around the world.
