Saudi Arabia unveiled investments worth $14.9 billion in the tech sector during the opening day of the LEAP 2025 Tech Conference, underscoring its commitment to becoming a global technology hub in line with Vision 2030.
Minister of Communications and Information Technology Abdullah Al-Swaha highlighted the Kingdom’s rapid growth in tech, with its workforce expanding from 150,000 in 2021 to 381,000 in 2024. He noted, “This region is the new Europe,” adding that Saudi Arabia leads the MENA region’s digital economy, which grew 73% to $260 billion between 2021 and 2024.
Key Investments and Announcements
- Groq & Aramco Digital: $1.5 billion for the world’s largest AI inferencing data center.
- Lenovo: Establishing a regional HQ and AI-driven tech center.
- Databricks: $300 billion over three years to upskill citizens and boost the local economy.
- Google: $70 billion over 10 years, training 1 million Saudis and creating a global AI hub.
- Alibaba: AI empowerment program with Tuwaiq Academy.
- Salesforce: $500 million for regional expansion.
- Tencent Cloud: $150 million for local infrastructure and partnerships.
Bridging the Global Digital Divide
Al-Swaha emphasized the Kingdom’s focus on inclusivity in the intelligent age. “Crown Prince Mohammed bin Salman has bet on closing the digital divide by fueling cloud, entrepreneurship, and tech for the region and the world.”
LEAP 2025 secured over $10.9 billion in startup funding and strategic investments, solidifying Saudi Arabia’s role as a global leader in technology innovation.