Saudi Arabia’s Neom Signs $5 Billion Deal for AI Data Center
- Neom secures investment from Saudi Arabia-based DataVolt
- Deal will back first phase of sustainable AI data center
Saudi Arabia’s Neom, the megacity being developed on the Red Sea coast, secured a $5 billion investment from a local firm to establish an AI data center.
The deal with Saudi-based DataVolt will see the company inject that money into the first phase of the project, expected to be operational by 2028, according to statements from Neom and the Saudi Press Agency. The 1.5-gigawatt site will be housed in Oxagon, an industrial hub within Neom.