Saudi Gazette report

RIYADH — The LEAP 25 conference attracted investments worth more than $7.5 billion in technology and artificial intelligence on its second day. This follows announcements of investments worth more than $14.9 billion on the first day of the conference.

NEOM announced a collaboration with Datavolt to invest $5 billion to build the world’s first fully sustainable AI data center, with a capacity of 1.5 gigawatts in OXAGON.

Mobily announced an investment of $911 million in strategic projects to develop digital infrastructure, including submarine cables and the development of data centers in Saudi Arabia.

Alfanar Company revealed an investment of $1.4 billion to develop four data centers with a capacity of 88 gigawatts, to support the growth of the digital economy and develop business solutions.

Zoom is investing $75 million to boost artificial intelligence and innovation, and to establish new data centers to support technology companies and government agencies in Saudi Arabia.

Saudi Arabian Railways (SAR) announced an investment of $51 million in a private fiber optic network.

LEAP is one of the largest technology events in the world, with more than 1,800 technology exhibitors, 1,000 speakers, and 680 startups participating.

The conference offers more than 20 technology tracks covering multiple fields, including: financial technology, smart cities, health technology, the Fourth Industrial Revolution, retail, and sports technology, in addition to new tracks such as Saudi Vision 2030.