NEOM has injected strategic investments worth $5 billion in the next-generation of artificial intelligence (AI) infrastructure, Rayan Fayez, Deputy CEO at NEOM, said in a panel discussion at the Saudi-US Investment Forum.

Fayez explained that NEOM has laid a solid foundation for this vital sector, which has contributed to attracting private and commercial capital from around the world. The investment model and infrastructure of the city are being developed to a world-class standard, supported by strong partnerships and growing confidence from the private sector.

NEOM wants to develop AI technology and infrastructure – including data centres – and has ambitions to establish the kingdom as a global centre for AI, pitching itself as a prospective hub for AI activity outside the United States.

Chaired by Bin Salman, Saudi Arabia’s de facto leader, the new company, Humain, will operate under the Public Investment Fund (PIF), and offer AI services and products, including data centres, AI infrastructure, cloud capabilities and advanced AI models, the state news agency reported.

Read the full story at Argaam and Middle East Monitor