Humain, Saudi Arabia’s state-backed AI champion, is preparing for an IPO and plans to raise a $2.5 billion fund to finance data center expansion. The fund will support developing 250 megawatts of capacity, potentially expandable to 1 gigawatt, in partnership with Al Moammar Information Systems, one of the largest IT companies in Saudi Arabia. CEO Tareq Amin announced these plans at the LEAP conference, which saw over $15 billion in planned technology investments. Amin had previously indicated his intention for a dual listing in Riyadh and New York by 2029. The timing is complicated by market volatility linked to the ongoing U.S.-Iran war, which has already led several Saudi companies to postpone their IPOs.
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