The mega-city Neom, constructed in Saudi Arabia, has received a $5 billion investment from the company Datavolt to establish an artificial intelligence data center. The facility, with a capacity of 1.5 gigawatts, is expected to be operational by 2028. Additionally, Saudi Arabia is working on a new artificial intelligence project that is planned to be supported with up to $100 billion.

Situated on the Red Sea coast of Saudi Arabia, the mega-city Neom has secured a $5 billion investment from a local company to establish an artificial intelligence data center.

EXPECTED TO BE OPERATIONAL BY 2028
Under the agreement with the Saudi-based company DataVolt, the company will make this investment in the first phase of the project.

According to statements from Neom and the Saudi Press Agency, this phase is expected to be operational by 2028.

The facility, with a capacity of 1.5 gigawatts, will be located in Neom’s industrial hub, Oxagon.

Neom is one of the key projects of the trillion-dollar plan aimed at making the Saudi economy independent of oil by Crown Prince Mohammed bin Salman.

Ultimately, it is envisioned to consist of about a dozen different districts, including a floating port and luxury tourism destinations. Despite funding setbacks, the Italian state finance group Sace recently provided a $3 billion loan for construction and development work. The investment by DataVolt will support Saudi Arabia’s goal of transforming Neom into a global logistics center and a significant hub for artificial intelligence.

SAUDI ARABIA’S ARTIFICIAL INTELLIGENCE INITIATIVES
Saudi Arabia has taken significant steps in the field of artificial intelligence by establishing research centers and ministries dedicated to AI, as well as developing large language models similar to OpenAI’s ChatGPT.

$100 BILLION ARTIFICIAL INTELLIGENCE PROJECT
According to Bloomberg, the country is also working on a new artificial intelligence project that is planned to receive support of up to $100 billion.