Saudi Arabia’s ambitious Vision 2030 received a significant boost on the second day of the LEAP 2025 technology conference, with investment deals worth $7.5 billion signed in Riyadh. The event, a cornerstone of the Kingdom’s digital transformation strategy, saw a flurry of high-profile announcements focused on artificial intelligence (AI), data centers, connectivity, and sustainability.

Among the major deals, the largest came from DataVolt, which unveiled a landmark $5 billion investment in the world’s first net-zero 1.5-gigawatt data center, set to be located in NEOM’s Oxagon. Rayan Fayez, Deputy CEO of NEOM, emphasized that this investment aligns with Saudi Arabia’s broader commitment to renewable energy and sustainable urban development, complementing previous initiatives in green hydrogen and smart infrastructure.

Highlighting the importance of AI in driving digital transformation, the Saudi Ministry of Communication and Technology announced on February 10 that Zoom had pledged $75 million to establish new data centers in the country. The ministry’s statement on X (formerly Twitter) outlined that this investment aims to support local tech companies, government entities, and regional digital acceleration efforts.

Similarly, telecommunications giant Mobily revealed a bold $900 million investment strategy aimed at expanding data centers, enhancing submarine cables,........

© Blitz