Data center firm Humain and Saudi Arabia’s National Infrastructure Fund (Infra) has set up a financing agreement for the $1.2 billion it needs to build 250MW of data center capacity in the Kingdom.

The company, which is backed by Saudi sovereign wealth fund PIF, announced the non-binding strategic financing framework agreement at the World Economic Forum event in Davos this week.

According to the partners, the agreement outlines non-binding financing terms for Humain’s development of up to 250MW of hyperscale AI data center capacity. These data centers “will deploy leading-edge GPUs for AI training and inference and support Humain’s local, regional and global customers,” the announcement said.

Tareq Amin, Humain CEO, said: “Demand growth for advanced compute is intensifying, and this framework agreement positions Humain to respond with speed and scale. In partnership with Infra, our goal is to deliver world-class AI data center infrastructure that enterprises can rely on as their compute needs grow more complex.”

Infra and Humain have agreed to explore the establishment of an AI data center investment platform. This would be anchored by the two organizations and structured to facilitate participation by global and local institutional investors to support further scaling of Humain’s AI strategy.

“Today’s Framework Agreement is an important step in expanding Infra’s role of unlocking infrastructure investment opportunities in the Kingdom,” said Esmail Alsallom, Infra CEO. “Our partnership with Humain will activate new pathways to grow institutional investment and develop the digital economy through enabling AI infrastructure.”

Humain was established by PIF in May 2025 with the aim of delivering 6.6GW of data center capacity over the next decade.

It has agreed to buy 18,000 Nvidia GB300 chips – with "several hundred thousand" more on the way, according to Humain – and partnered with AWS for a $5 billion 'AI Zone,' and deployed Groq chips for inference.

In November, it set up a JV with AMD and Cisco to deploy 1GW of data center capacity, and announced it was building a 500MW data center in Saudi Arabia with Elon Musk’s xAI.