Saudi Arabia’s Neom, the megacity being developed on the Red Sea coast, secured a $5 billion investment from a local firm to establish an AI data center.

Saudi Arabia's NEOM, a Red Sea urban and industrial development, has signed a deal with DataVolt to develop a 1.5 gigawatt (GW) net zero artificial intelligence project in its Oxagon industrial zone,

NEOM partners with DataVolt to develop a $5bn AI-powered data centre in Oxagon, Saudi Arabia NEOM signed a partnership agreement with DataVolt to design and develop a large-scale artificial intelligence-powered data centre with a total capacity of 1.5 gigawatts.

NEOM, the sustainable region taking shape in northwest Saudi Arabia, and DataVolt, a Saudi-based international developer, investor and operator of data centers, today (February 10) signed a landmark agreement, marking a significant step toward realising the kingdom’s vision for a sustainable, data-driven economy.

Australian electrolyser company, Hysata, has announced a new agreement with ACWA Power to deliver commercial scale electrolysis technology in Saudi Arabia.

Saudi Arabia’s $1.5 trillion Neom development has secured $3bn in funding from state-owned Italian financier SACE, paving the way for Italian businesses, suppliers and SMEs to work on the programme’s many individual projects.