RIYADH: Deals worth $7.5 billion were signed on the second day of the LEAP 2025 tech conference in Riyadh, with investments announced in data centers and artificial intelligence-driven infrastructure.
Industry leaders, investors, and policymakers unveiled multibillion-dollar initiatives to drive digital transformation and technological advancements in the Kingdom, reinforcing the nation’s Vision 2030 ambitions to foster innovation, attract foreign investment, and lead the digital revolution.
The biggest deal saw DataVolt announce a $5 billion investment in the world-first net-zero 1.5-gigawatt data center, set to be located in NEOM’s Oxagon.
NEOM’s Deputy CEO Rayan Fayez commented that such investment in Oxagon, backed by previous investment in green hydrogen, further reinforces the Kingdom’s commitment to renewable energy and sustainable urban development.
Another high-value deal saw Mobily announce plans to invest more than $900 million to develop and expand data centers, submarine cables, and cross-border connectivity to support AI-driven demands.
Salman bin Abdulaziz Al-Badran, CEO of the firm, said: “We have in Mobily a 39-megawatt data center capacity to be deployed, with 13 MW already completed and set to go commercial by the end of Q1.”
In addition, the company's submarine cable investment will enhance connectivity, with projects linking Africa and the Gulf to the Red Sea aimed at strengthening digital infrastructure across the region.
Alfanar’s leap to the future
Amer Al-Ajmi, executive vice president of Alfanar, outlined the company’s significant contributions to Saudi Arabia’s digital transformation, including the completion of 5 million smart meter replacements in just 13 months.
He also described a new $1.4 billion investment in four data centers across two cities as “our leap to the future.”
Zoom and SkyFive Arabia expand in Saudi Arabia
Zoom’s Global Chief Information Officer Gary Sorrentino, made a significant commitment to the Saudi market, announcing a $75 million investment in the Kingdom.
Meanwhile, Mohannad Al-Kalash, vice president of Zoom Communications for the Middle East, Turkiye, Africa, and Pakistan region, confirmed plans to establish a new data center in Riyadh.
SkyFive Arabia CEO Mohamed AbdelRehim announced an initial investment of $100 million to expand in Saudi Arabia, Turkiye, and South Africa, “with an ambition to connect more than 1,000 aircraft,” he added.
SkyFive Arabia is also committed to bringing high-speed 100 megabits per second connectivity to aircraft, ensuring inflight Internet services are comparable to home broadband speeds.
Hewlett Packard Enterprise and SAR drive localization efforts
Mohammad Al-Rehaili, managing director of Hewlett Packard Enterprise for the Middle East, announced a major localization milestone with the manufacturing of HPE Aruba networking equipment in the Kingdom.
More than 20,000 units will be produced annually, improving supply chain efficiency in the nation by 30 percent, he noted.
Meanwhile, Abdullah Al-Yousef, infrastructure vice president at Saudi Arabia Railways, revealed that the company had obtained a license from the Communications, Space and Technology Commission to lease telecom infrastructure commercially, allowing it to extend its fiber optic and telecom tower network.
Saudi Arabia’s tech future
LEAP 2025, being held in Riyadh until Feb. 12, continues to draw global investors and technology pioneers to Saudi Arabia, reinforcing the country’s commitment to advancing AI, connectivity, sustainability, and digital transformation.
Haytham Al-Ohali, vice minister of the Ministry of Communications and Information Technology, emphasized the evolution of the event, saying: “When we started LEAP back in 2022, it was really about bringing four key ingredients to the table: the power of investments, industry leaders and knowledgeable speakers, the latest global technology, and cutting-edge innovation from our entrepreneurs and startup community.”
The minister highlighted that over $30 billion has been invested in Saudi Arabia’s tech sector over the past three years, in addition to the $14.9 billion announced during the first day of LEAP 2025.
Al-Ohali also underlined the country’s commitment to making artificial intelligence accessible, saying: “Saudi is doing its part to democratize inferencing to more than 4 billion people that live in the Kingdom.”
