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Day 3 of LEAP25 Conference in Riyadh Sees $1.79 Billion in Technology Investments

The third day of the LEAP25 conference in Riyadh featured a series of investments by major technology companies and startup rounds, reinforcing Saudi Arabia’s position as a regional hub for technology and innovation. (SPA)
The third day of the LEAP25 conference in Riyadh featured a series of investments by major technology companies and startup rounds, reinforcing Saudi Arabia’s position as a regional hub for technology and innovation. (SPA)
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Day 3 of LEAP25 Conference in Riyadh Sees $1.79 Billion in Technology Investments

The third day of the LEAP25 conference in Riyadh featured a series of investments by major technology companies and startup rounds, reinforcing Saudi Arabia’s position as a regional hub for technology and innovation. (SPA)
The third day of the LEAP25 conference in Riyadh featured a series of investments by major technology companies and startup rounds, reinforcing Saudi Arabia’s position as a regional hub for technology and innovation. (SPA)

The third day of the LEAP25 conference in Riyadh featured a series of investments by major technology companies and startup rounds, reinforcing Saudi Arabia’s position as a regional hub for technology and innovation and a global destination for tech and artificial-intelligence (AI) investments.

Tuesday's announced investments totaled $1.79 billion, focusing on digital talent development; support for research, development, and innovation; AI; cloud computing; and strengthening technological infrastructure.

The Saudi Communications, Space, and Technology Commission (CST) announced the launch of the third cohort of the Emerging Technology Regulatory Sandbox, enabling innovators and startups to test new technologies in a flexible and secure regulatory environment and facilitating their market entry.

Equinix announced the launch of the region's largest cloud-computing data center, with an investment exceeding $1 billion, further solidifying the Kingdom’s position as a global hub for cloud service providers and technological innovation.

White Helmets announced the launch of the "Asif" AI agent to enhance efficiency and accuracy in construction projects, keeping pace with future developments.

At the investment fund level, Hands On Global Management announced the launch of a $300 million fund to develop and distribute games locally and internationally. The company also revealed plans to establish a new headquarters in the Kingdom to support the growth of the gaming industry and expand its global reach.

In support of startups, the National Technology Development Program (NTDP) launched accelerators and funding funds worth $150 million to foster innovation in the information-technology (IT) sector and drive the growth of tech startups in Saudi Arabia.

Joa Capital launched the first infrastructure fund in partnership with Buildnow Trading, with an $80 million investment to meet the needs of the Kingdom's thriving construction sector.

Ula Capital announced the launch of the first Saudi fund dedicated to investing in applied AI and deep tech projects, with a value of $75 million, to strengthen the Kingdom’s leadership in these advanced fields and support technological innovation in the region.

To reinforce the Kingdom’s position as a leading driver of innovation and growth in the region, Sharaka Financial announced the launch of a $30 million investment fund to support the growth of startups across the Middle East and North Africa.

Meanwhile, Orbit Startups, in collaboration with Sanabil Investments, introduced a $60 million accelerator program aimed at investing in 200 early-stage tech startups.

Regarding startup funding rounds, Merit announced the successful completion of its Series B investment round, securing $28 million to enhance its innovative tech solutions and expand its global market presence.

In addition, UltiAcademy secured $28 million in a Series B funding round led by Rua Ventures, with key participation from the Jordan Investment and Venture Capital Fund. The investment will support the company’s expansion in the Kingdom and the launch of a generative AI-powered digital learning platform to enhance the digital learning experience across the region.

BRKZ closed the second phase of its Series A funding round, securing $22.5 million to expand the smart construction sector in the Kingdom through advanced technology solutions, supporting smart-city projects.

Buildnow announced securing $9.76 million in funding, led by Arbah and STV, to boost its advanced digital solutions for the construction supply chain across the Middle East and North Africa.

Hydratac Inc. announced a $3 million investment in Hands On Global Management’s fund to develop military shooting simulation games, aiming to drive innovation in the regional gaming industry and expand interactive experiences in this field.

As part of efforts to develop national digital talent, Microsoft announced a collaboration with the National Academy of Information Technology to launch the region’s first datacenter academy, offering specialized programs in AI and technological infrastructure.

Huawei announced the expansion of its investments in digital talent development with the launch of the AI Knowledge Hub, aimed at promoting lifelong learning and training 25,000 people.

Meanwhile, Accenture revealed the establishment of its first academy in the region, focusing on cybersecurity, data and AI, digital engineering and manufacturing, and emerging technologies, with a target of training 15,000 individuals.

Atomcamp announced the launch of a regional academy to provide advanced education in data science and AI, aiming to enhance the capabilities of talent in the Kingdom and the region, with a target of training 20,000 people.

Torod company closed its Series A funding round, raising $11.3 million, led by Waed company, to support the development of the first AI-powered logistics agent.

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Technology

Foundation Stone Laid for World’s Largest Government Data Center in Riyadh

Officials are seen at Thursday's ceremony. (SPA)
Officials are seen at Thursday's ceremony. (SPA)
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Foundation Stone Laid for World’s Largest Government Data Center in Riyadh

Officials are seen at Thursday's ceremony. (SPA)
Officials are seen at Thursday's ceremony. (SPA)

The foundation stone was laid in Riyadh Thursday for the Saudi Data and Artificial Intelligence Authority (SDAIA) “Hexagon” Data Center, the world’s largest government data center by megawatt capacity.

Classified as Tier IV and holding the highest data center rating by the global Uptime Institute, the facility will have a total capacity of 480 megawatts and will be built on an area exceeding 30 million square feet in the Saudi capital.

Designed to the highest international standards, the center will provide maximum availability, security, and operational readiness for government data centers. It will meet the growing needs of government entities and support the increasing reliance on electronic services.

The project will contribute to strengthening the national economy and reinforce the Kingdom’s position as a key player in the future of the global digital economy.

A ceremony was held on the occasion, attended by senior officials from various government entities. They were received at the venue by President of SDAIA Dr. Abdullah bin Sharaf Alghamdi and SDAIA officials.

Director of the National Information Center at SDAIA Dr. Issam bin Abdullah Alwagait outlined the project’s details, technical and engineering specifications, and the operational architecture ensuring the highest levels of readiness and availability.

He also reviewed the international accreditations obtained for the center’s solutions and engineering design in line with recognized global standards.

In a press statement, SDAIA President Dr. Abdullah bin Sharaf Alghamdi said the landmark national project comes as part of the continued support of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister and Chairman of SDAIA’s Board of Directors.

This support enables the authority, as the Kingdom’s competent body for data, including big data, and artificial intelligence and the national reference for their regulation, development, and use, to contribute to advancing the Kingdom toward leadership among data- and AI-driven economies, he noted.

The Kingdom will continue to strengthen its presence in advanced technologies with the ongoing support of the Crown Prince, he stressed.

SDAIA will pursue pioneering projects that reflect its ambitious path toward building an integrated digital ecosystem, strengthening national enablers in data and artificial intelligence, and developing world-class technical infrastructure that boosts the competitiveness of the national economy and attracts investment. This aligns with Saudi Vision 2030’s objectives of building a sustainable knowledge-based economy and achieving global leadership in advanced technologies.

Technology

Neuralink Plans ‘High-Volume’ Brain Implant Production by 2026, Musk Says

Elon Musk steps off Air Force One upon arrival at Morristown Municipal Airport in Morristown, New Jersey, US, March 22, 2025. (AFP)
Elon Musk steps off Air Force One upon arrival at Morristown Municipal Airport in Morristown, New Jersey, US, March 22, 2025. (AFP)
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Neuralink Plans ‘High-Volume’ Brain Implant Production by 2026, Musk Says

Elon Musk steps off Air Force One upon arrival at Morristown Municipal Airport in Morristown, New Jersey, US, March 22, 2025. (AFP)
Elon Musk steps off Air Force One upon arrival at Morristown Municipal Airport in Morristown, New Jersey, US, March 22, 2025. (AFP)

Elon Musk's brain implant company Neuralink will start "high-volume production" of brain-computer interface devices and move to an entirely automated surgical procedure in 2026, Musk said in a post on the social media platform X on ‌Wednesday.

Neuralink did ‌not immediately respond ‌to ⁠a Reuters ‌request for comment.

The implant is designed to help people with conditions such as a spinal cord injury. The first patient has used it to play video ⁠games, browse the internet, post on ‌social media, and ‍move a cursor ‍on a laptop.

The company began ‍human trials of its brain implant in 2024 after addressing safety concerns raised by the US Food and Drug Administration, which had initially rejected its application in ⁠2022.

Neuralink said in September that 12 people worldwide with severe paralysis have received its brain implants and were using them to control digital and physical tools through thought. It also secured $650 million in a June funding round.

Technology

Report: France Aims to Ban Under-15s from Social Media from September 2026

French President Emmanuel Macron holds a press conference during a European Union leaders' summit, in Brussels, Belgium December 19, 2025. (Reuters)
French President Emmanuel Macron holds a press conference during a European Union leaders' summit, in Brussels, Belgium December 19, 2025. (Reuters)
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Report: France Aims to Ban Under-15s from Social Media from September 2026

French President Emmanuel Macron holds a press conference during a European Union leaders' summit, in Brussels, Belgium December 19, 2025. (Reuters)
French President Emmanuel Macron holds a press conference during a European Union leaders' summit, in Brussels, Belgium December 19, 2025. (Reuters)

France plans to ban children under 15 from social media sites and to prohibit mobile phones in high schools from September 2026, local media reported on Wednesday, moves that underscore rising public angst over the impact of online harms on minors.

President Emmanuel Macron has often pointed to social media as one of the factors to blame for violence among young people and has signaled he wants France to follow Australia, whose world-first ‌ban for under-16s ‌on social media platforms including Facebook, Snapchat, TikTok ‌and ⁠YouTube came into force ‌in December.

Le Monde newspaper said Macron could announce the measures in his New Year's Eve national address, due to be broadcast at 1900 GMT. His government will submit draft legislation for legal checks in early January, Le Monde and France Info reported.

The Elysee and the prime minister's office did not immediately respond to a request for comment on the reports.

Mobile phones have been banned ⁠in French primary and middle schools since 2018 and the reported new changes would extend that ban ‌to high schools. Pupils aged 11 to ‍15 attend middle schools in the French ‍educational system.

France also passed a law in 2023 requiring social platforms to ‍obtain parental consent for under-15s to create accounts, though technical challenges have impeded its enforcement.

Macron said in June he would push for regulation at the level of the European Union to ban access to social media for all under-15s after a fatal stabbing at a school in eastern France shocked the nation.

The European Parliament in ⁠November urged the EU to set minimum ages for children to access social media to combat a rise in mental health problems among adolescents from excessive exposure, although it is member states which impose age limits. Various other countries have also taken steps to regulate children's access to social media.

Macron heads into the New Year with his domestic legacy in tatters after his gamble on parliamentary elections in 2024 led to a hung parliament, triggering France's worst political crisis in decades that has seen a succession of weak governments.

However, cracking down further on minors' access to social media could prove popular, according to opinion ‌polls. A Harris Interactive survey in 2024 showed 73% of those canvassed supporting a ban on social media access for under-15s.