FII9 Conference close witnesses investment deals worth $50B

The 9th edition of the Future Investment Initiative (FII9) Conference concluded in Riyadh during Oct. 27–30, with the signing of agreements and investment commitments totaling more than $50 billion.

According to the Saudi Press Agency (SPA), the signed agreements covered the artificial intelligence (AI), advanced technology, renewable energy, and infrastructure sectors, with participation from leading Saudi and international companies.

Key announcements included renewable energy partnerships between ACWA Power Co., Saudi Aramco Power Co. (SAPCO), and global utility firms aimed at expanding low-carbon power generation capacity.

The event also featured AI and data-infrastructure initiatives with the involvement of global companies such as HUMAIN, Qualcomm, and Blackstone to support the development of sovereign computing and AI-training facilities in the Kingdom.

In addition, UK Treasury Secretary Rachel Reeves announced a new £6.4 billion ($8.4 billion) trade and investment package between the United Kingdom and GCC countries, aimed at strengthening bilateral cooperation in advanced trade and technology.