Saudi Arabia is stepping up its artificial intelligence ambitions, with its newly formed AI company, Humain, entering early discussions with some of the world’s largest private equity firms to attract billions of dollars in fresh investment.
According to people familiar with the talks, Humain has approached global heavyweights including Blackstone Inc. and BlackRock Inc. about potential partnerships. While no deal has yet been finalized, the level of interest highlights both the scale of Saudi Arabia’s AI ambitions and the appetite of major investors to gain a foothold in one of the world’s fastest-growing technology markets.
Launched in May and backed by the kingdom’s powerful Public Investment Fund (PIF), Humain is at the core of Riyadh’s plan to accelerate digital transformation and diversify the economy under Vision 2030. The PIF, which manages assets of about $1 trillion, has increasingly pivoted toward high-tech investments at home, aiming to position Saudi Arabia as a leading hub for AI innovation and infrastructure.
Industry sources suggest that Blackstone CEO Steve Schwarzman has personally been involved in the preliminary discussions, underscoring the significance of the potential deal. Neither Humain nor the private equity firms have issued public statements on the matter.
Humain is already building its first data centers in Saudi Arabia, set to go live in 2026, with a target of reaching 1.9 gigawatts of capacity by 2030. To support this growth, the company is securing advanced semiconductors from U.S. supplier Nvidia and has struck partnerships with technology leaders including Qualcomm and Cisco. It is also exploring collaborations with Elon Musk’s xAI, according to reports.
Meanwhile, Humain Ventures—a $10 billion fund launched this summer—is channeling capital into AI projects across the region, reflecting Saudi Arabia’s intent to combine financial muscle with technological development.
This push mirrors a wider trend across the Middle East, where sovereign wealth funds from Qatar, the UAE, and Saudi Arabia are pouring billions into global tech. Recent moves include Qatar’s backing of AI firm Anthropic and Abu Dhabi’s partnership with BlackRock and Microsoft on large-scale infrastructure investments.
As competition in artificial intelligence intensifies worldwide, Saudi Arabia is making clear it wants to be more than just a financier. By expanding its domestic infrastructure and forging international partnerships, the kingdom is positioning itself as a central player in shaping the future of AI.
