A Saudi company will invest $5 billion to establish an artificial intelligence (AI) data centre in NEOM, the kingdom’s futuristic megacity, state media reported.
The agreement, signed between DataVolt and NEOM, will finance the development of a fully sustainable AI data centre with a capacity of 1.5 gigawatts, according to the official Saudi Press Agency (SPA). The facility will be located in Oxagon, an industrial hub within NEOM, envisioned as the world’s largest floating industrial complex.
NEOM, a flagship project unveiled by Crown Prince Mohammed bin Salman, includes ambitious developments such as The Line, a 170-kilometre (105-mile) mirrored city stretching across the desert from the Gulf of Aqaba. Initially projected to house over one million residents by 2030 and nine million by 2045, recent estimates cited by Bloomberg suggest the figure has been revised to 300,000 by the decade’s end.
In October 2024, Saudi Arabia inaugurated Sindalah, a luxury Red Sea resort, marking the first operational project within NEOM. The megacity is a cornerstone of the kingdom’s Vision 2030 initiative, aimed at diversifying the economy and reducing dependence on oil.
