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Saudi Arabia Solidifies Position as Regional, Global Hub for AI with $14.9B in Investment at LEAP25

Minister of Communications and Information Technology Abdullah Alswaha. SPA
Minister of Communications and Information Technology Abdullah Alswaha. SPA
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Saudi Arabia Solidifies Position as Regional, Global Hub for AI with $14.9B in Investment at LEAP25

Minister of Communications and Information Technology Abdullah Alswaha. SPA
Minister of Communications and Information Technology Abdullah Alswaha. SPA

LEAP 2025 officially launched in Riyadh on Sunday, bringing together global technology and innovation leaders to reinforce Saudi Arabia's position as a primary hub for digital transformation and an attractive destination for tech investments.
On the first day of the event, investments and projects worth over $14.9 billion in the artificial intelligence sector were announced, solidifying the Kingdom’s role as a key global player in shaping the digital future.
These investments are designed to empower digital skills development, foster the growth of tech startups, and enhance innovation in Saudi Arabia. They further establish the Kingdom as a hub for technology and innovation, positioning it as an attractive environment for leading global technology companies and reinforcing its status as the largest digital economy in the Middle East and North Africa (MENA) region.
The announcement was made during the keynote address by Minister of Communications and Information Technology Abdullah Alswaha, as the conference, which runs until Wednesday, commenced under the theme "Into New Worlds."

Alswaha emphasized that these significant investments and initiatives were made possible through the support and empowerment of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister. These initiatives aim to enable the technology sector and accelerate Saudi Arabia’s transition toward an innovative and sustainable AI-driven economy, in line with Vision 2030 objectives.
LEAP 2025 is organized by the Ministry of Communications and Information Technology, the Saudi Federation for Cybersecurity, Programming, and Drones (SAFCSP), and Tahaluf Company—a joint venture between SAFCSP and Informa PLC, supported by the Events Investment Fund.
The first day of the event witnessed the announcement of several major investments and projects in artificial intelligence, cloud computing, and digital transformation, including;
Groq & Aramco Digital announced a $1.5 billion investment to expand AI-powered cloud computing, positioning Saudi Arabia as a global leader in artificial intelligence.
Alat & Lenovo confirmed a $2 billion investment to establish an advanced AI and robotics-based manufacturing and technology center in Saudi Arabia and to open Lenovo's regional headquarters in Riyadh.
Google unveiled plans for an AI infrastructure investment, launching a global AI hub in Saudi Arabia to meet regional and international demand.
Qualcomm introduced the ALLaM language model on the Qualcomm AI Cloud, alongside the launch of the ALLaM AI PC, enabling cloud-based AI solutions for developers and accelerating technological innovation.
Alibaba Cloud launched an AI empowerment program in Saudi Arabia, in collaboration with Tuwaiq Academy and STC, to train local talent in advanced technologies and contribute to building a sustainable digital future.
Databricks committed $300 million in Platform-as-a-Service (PaaS) solutions, supporting app developers and fostering data engineering and AI expertise to boost Saudi Arabia’s digital economy.
SambaNova pledged $140 million to develop advanced AI infrastructure in Saudi Arabia, reinforcing the Kingdom’s role as a regional innovation hub.
KKR & Gulf Data Hub announced a major investment in Saudi Arabia’s data center development, with a total capacity of up to 300 megawatts, enhancing cloud computing and AI capabilities.
Salesforce committed $500 million to expand its Hyperforce platform, serving its regional customers from Saudi Arabia.
Tencent Cloud pledged a $150 million investment to establish its first cloud region in the Middle East, launching from Saudi Arabia with integrated AI capabilities.
LEAP 2025 underscores Saudi Arabia’s commitment to leading the global AI sector, attracting top-tier technology investments, and cementing its position as a hub for digital transformation and technological innovation.

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Oil up 1% on Mideast Risks, China Stimulus

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
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Oil up 1% on Mideast Risks, China Stimulus

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil prices rose more than 1% on Tuesday to their highest levels since the beginning of the month, supported by instability in the Middle East and China's plans for more economic stimulus.

Brent futures climbed 84 cents, or 1.2%, to $71.91 a barrel by 0911 GMT, while US West Texas Intermediate crude futures also rose 84 cents, 1.2%, to $68.42.

Oil prices gained support from President Donald Trump's vow to continue the US assault on Yemen's Houthis unless they end their attacks on ships in the Red Sea. Trump said on Monday he would hold Iran responsible for any attacks carried out by the Houthi group that it backs in Yemen.

Meanwhile, Israeli airstrikes in Gaza killed at least 200 people, Palestinian health authorities said, as attacks on Tuesday ended a weeks-long standoff over extending a ceasefire that halted fighting in January, Reuters reported.

"Along with US strikes on the Houthis in Yemen, several factors provided support to the market," ING analysts said in a research note.

"China unveiled plans to revive consumption, while Chinese retail sales and fixed asset investment growth came in stronger than expected."

The state council, or cabinet, unveiled on Sunday a special action plan to boost domestic consumption, with measures such as increasing incomes and offering childcare subsidies.

Crude oil throughput in China, the world's biggest crude importer, rose 2.1% in January and February from a year earlier, supported by a new refinery and Lunar New Year holiday travel, official data showed on Monday.

The OECD said on Monday that Trump's tariffs would drag down growth in the United States, Canada and Mexico, and weigh on global energy demand.

"With global supply surging and tariffs and trade wars set to hit global demand, we remain of the view that prices will head lower and eventually reach the mid $60s," said Robert Rennie, head of commodity and carbon strategy at Westpac.

Further adding to global supply, Venezuela's state-run PDVSA has put together three operational scenarios indicating it plans to continue producing and exporting oil from its joint venture with Chevron after the US major's licence expires next month, according to a company document reviewed by Reuters on Monday.

Talks on Tuesday between Trump and Russian President Vladimir Putin about ending the Ukraine war were also in focus.

Markets believe a potential peace negotiation would involve the easing of sanctions on Russia and the return of its crude supply to global markets, weighing on prices.