HUMAIN selects Goldman Sachs to arrange SAR 20B financing for data centers

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HUMAIN, a company owned by the Public Investment Fund (PIF) and specializing in integrated AI solutions, selected Goldman Sachs to advise on arranging a financing package worth at least SAR 20 billion (USD 5.33 billion) for the development of data centers in the Kingdom, Reuters said, citing sources.
 

The sources added that the company recently engaged the US bank to help finance data centers and GPU computing infrastructure with a capacity of up to two gigawatts, representing about one-third of HUMAIN’s target by 2034, noting that such expansion will require substantial funding.
 

The data centers are planned to be developed in the Riyadh region, the sources said, without providing further details on the timeline or execution plans.
 

HUMAIN, which was established last year, signed several strategic agreements, including partnerships with xAI—in which the PIF holds a minority stake—and an agreement with AirTrunk, backed by Blackstone, to develop data centers in the Kingdom.