The mega city being built in Saudi Arabia, Neom, 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 also working on a new artificial intelligence project planned to be supported with up to $100 billion.

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

EXPECTED TO BE OPERATIONAL BY 2028 As per the agreement with DataVolt based in Saudi Arabia, 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 1.5 gigawatt capacity, will be located in Neom’s industrial center, Oxagon.

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

Ultimately, it is envisioned to consist of about a dozen different regions, including a floating port and luxury tourism destinations. Despite facing financing cutbacks, the Italian state finance group Sace recently provided a $3 billion credit for construction and development work. DataVolt’s investment will support Saudi Arabia’s goals of turning Neom into a global logistics center and a major 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 and 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 planned to be supported with up to $100 billion.