Saudi Arabia’s National Infrastructure Fund (Infra) and Humain signed two financing agreements worth up to SAR 2.5 billion ($666.7 million) in Riyadh on 8 November, Forbes Middle East reported. TradeArabia reported that the companies announced the agreements on 9 November, putting their total at up to SAR 2.5 billion ($667 million), following a non-binding financing framework of up to SAR 4.5 billion ($1.2 billion) announced in January. The new facilities cover computing equipment and electricity infrastructure for Humain’s AI data centres. Infra is an infrastructure financing institution operating under the National Development Fund.
Key points
- Up to SAR 1.1 billion ($293.3 million) will support GPUs representing approximately 25 MW of IT load.
- Up to SAR 1.4 billion ($373.3 million) will finance substations, transmission infrastructure and grid connections.
- The power infrastructure is designed for future data centre development of up to 1 GW of IT capacity.
- The agreements are the first transactions announced under Infra’s AI Data Center Financing Program.
Infra finances approximately 25 MW of GPUs
The GPU facility, worth up to SAR 1.1 billion ($293.3 million), is intended to fund the purchase and deployment of graphics processing units. The equipment represents approximately 25 MW of IT load, a measure of the electricity drawn by computing equipment. That capacity is tied to the hardware facility rather than to the full financing package.
The agreements are the first transactions announced under Infra’s AI Data Center Financing Program. Infra and Humain had announced a strategic framework at Davos in January 2026 with non-binding terms of up to SAR 4.5 billion ($1.2 billion) for AI and digital infrastructure projects. The newly signed facilities put financing behind specified computing and power projects.
Forbes Middle East reported that the agreements were signed on 8 November and gave their total as $666.7 million. TradeArabia dated the announcement 9 November and reported a total of up to $667 million.
Grid facility targets up to 1 GW
The second facility, worth up to SAR 1.4 billion ($373.3 million), will finance substations, transmission infrastructure and grid connections for Humain’s Saudi data centres. The planned electricity infrastructure is designed to support future data centre development with up to 1 GW of IT capacity. The facility funds the power infrastructure, while the separate GPU facility covers computing equipment.
Infra chief executive Esmail bin Mohammed Alsallom said the agreements were intended to draw investment beyond the fund’s own commitment. He said commercial viability and economic value would guide its use of capital, with the power work intended to prepare further data centre projects for investment, TradeArabia reported.
The agreements were signed in the presence of Public Investment Fund Governor Yasir Al-Rumayyan, Minister of Economy and Planning Faisal bin Fadhil Alibrahim, who chairs Infra’s board, and National Development Fund Governor Abdulaziz Alarifi. Infra works with commercial banks, investors, developers and government entities on infrastructure financing.
Aramco holds 49 percent of Humain
Humain’s ownership changed before the financing agreements were signed. Saudi Aramco acquired 49 percent through a wholly owned subsidiary in a transaction completed on 1 November, while the Public Investment Fund retained 51 percent, Arab News reported. Aramco is to provide approximately SR9.9 billion in cash during 2026, with AI, computing and digital holdings also forming part of the deal.
AI Affairs reported Aramco’s 49 percent investment as a $2.6 billion cash-and-assets deal. The Infra agreements address a different part of Humain’s expansion: financing for hardware and the electricity connections needed to support data centres.
Humain chief executive Tareq Amin said the facilities would help it deploy computing capacity and the power infrastructure to support it. The company develops data centres, computing infrastructure, AI models and applications. Its financing agreements with Infra follow the January framework, which set out potential funding rather than binding terms.
Humain plans to deploy 3 gigawatts of AI data centre capacity by 2030 to serve regional and international demand for computing, Forbes Middle East reported.
