A Saudi firm is set to invest $5 billion in an artificial intelligence data centre in NEOM, according to state media.
The deal, signed between DataVolt and NEOM, will fund a fully sustainable AI data centre with a 1.5-gigawatt capacity, as reported by the official Saudi Press Agency.
The facility will be in Oxagon, an industrial city within NEOM, which Saudi Arabia aims to develop into the world’s largest floating industrial complex.
NEOM, launched by Crown Prince Mohammed bin Salman, includes projects like The Line, a 170-kilometre mirrored city, and Sindalah, a luxury Red Sea resort.
The project is part of Vision 2030, Saudi Arabia’s strategy to shift from an oil-based economy to a technology-driven future.
