Saudi Arabia's 'New Future City' receives $5 billion investment to establish an artificial intelligence data center

On February 11th, Jinshi Data News, according to foreign media reports, the mega city ‘Neom’ being developed along the Red Sea coast in Saudi Arabia has received a $5 billion investment from a local company to establish an artificial intelligence data center. According to statements from Neom and the Saudi Press Agency, the protocol reached between Neom and Saudi DataVolt company will see the latter inject this funding into the project’s first phase, expected to be operational by 2028. This investment will enhance Saudi Arabia’s ambitions in creating a global logistics hub and artificial intelligence center in Neom. Saudi Arabia has established research centers and departments dedicated to artificial intelligence research, and has developed large language models similar to OpenAI’s ChatGPT. According to foreign reports, Saudi Arabia is also planning a new artificial intelligence project with support funding of up to $100 billion.