By AFP - Agence France Presse
Saudi Arabia to invest $5 billion in an AI data center
A Saudi Arabian company will invest US$5 billion to build an artificial intelligence data center in the futuristic city of NEOM, state media reported.
The agreement, signed between DataVolt and NEOM, will finance the creation of a fully sustainable AI data center with a capacity of 1.5 gigawatts, the official SPA news agency reported.
The project will be located in Oxagon, an industrial city within NEOM, which the kingdom intends to transform into the world's largest floating industrial complex.
The NEOM project, unveiled by Crown Prince Mohammed bin Salman, features a mirrored building dubbed The Line, stretching 170 kilometers (105 miles) across the Gulf of Aqaba desert.
Announcing The Line in 2022, Prince Mohammed said it would house more than one million inhabitants by 2030 and nine million by 2045.
But developers have since revised these projections down to 300,000 residents by the end of the decade, according to Bloomberg.
At the end of October, Saudi Arabia announced the opening of Sindalah, a luxury resort on the Red Sea, marking NEOM's first operational project.
NEOM is part of the wider “Vision 2030” initiative, which aims to ensure the future development of the world's largest oil exporter in a post-oil world.
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