Saudi fires up Gulf AI race with $15 billion tech deals at LEAP

Fortune Gulf Brief reveals that Saudi Arabia has significantly boosted its AI race with a $15 billion investment at LEAP, the kingdom's biggest tech conference. The event, initially delayed by four months due to the Iran war, showcased the kingdom's commitment to AI despite ongoing geopolitical instability. Major tech companies including Amazon Web Services, Together AI, and Elon Musk's xAI all participated, displaying their strategic commitments and ambitious plans for AI development in the region.

HUMAIN, a Saudi-backed AI company, is set to build a 250MW AI data center, expected to generate over $5 billion annually. This move positions Saudi Arabia to compete with its Gulf neighbors, particularly the UAE, in becoming the region's AI hub. The conference also highlighted Saudi Arabia's growing digital economy, which has expanded by 69% in the past year, from $118 billion to $199 billion.

Over 1,800 global technology brands, including NVIDIA, Google, Roblox, Uber, Meta, Lenovo, Nokia, and Luma AI, are present at LEAP 2026, showcasing the latest advancements in AI, cloud computing, cybersecurity, smart cities, fintech, healthcare, space, gaming, and mobility.