AXS and BIM Capital Plan SAR 675 Million Saudi Data Center Fund

Axelerated Solutions for Information and Communication Technology Company (AXS) has signed an agreement with Capital Market Authority‑licensed BIM Capital to establish a private, Shariah‑compliant investment fund targeting SAR 675 million (approximately $180 million) to develop data centre infrastructure in Saudi Arabia. The fund, announced during the fifth edition of LEAP in Riyadh, is planned to finance two AI‑ready Tier III data centres in the Kingdom’s Central and Western regions with an initial combined capacity of 20 megawatts and modular expansion to 40 megawatts.

"The agreement builds on the company’s experience of more than a decade in developing digital infrastructure across Saudi Arabia," said Ahmed bin Abdulaziz Al‑Osaily, CEO of AXS. "The project represents a shift in the company’s business model from a technology solutions provider to an investor, developer and operator of strategic digital assets."

Structure and roles

Once established, the Saudi Data Centre Infrastructure Fund will operate as a private, closed‑ended vehicle managed by BIM Capital. The fund will invest in the development, ownership and operation of two Tier III facilities designed to support artificial intelligence workloads. Each facility will initially be built to deliver 10 megawatts of critical IT load, with modular design enabling each site to expand to 20 megawatts, taking the combined capacity to 40 megawatts over time.

• AXS will participate as a strategic partner and investor through a cash subscription and receive fund units in exchange for a portion of its design and construction fees and other receivables, subject to final fund terms.
• AXS will act as the main contractor for design and construction, and will manage and operate the facilities post‑completion while supporting marketing and leasing of capacity.
• BIM Capital will structure, establish and manage the fund, prepare terms and regulatory documents, complete Capital Market Authority requirements and privately place fund units with qualified investors. BIM Capital is licensed under CMA licence number 25303‑32.

Context: demand and capacity targets

The fund is being launched amid rising demand for data centre infrastructure across Saudi Arabia, driven by artificial intelligence and cloud adoption as well as local data‑hosting requirements. The announcement cites market estimates that operational data centre capacity in the Kingdom reached roughly 467 megawatts in Q1 2026, with a national target of 1.5 gigawatts by 2030. It also referenced more than $35 billion in investment commitments from major cloud computing companies, which are expected to spur further demand for local hyperscale and enterprise capacity.

AXS, founded in 2015 and headquartered in Riyadh, is listed on the Saudi Exchange’s Nomu Parallel Market under ticker 9637. The company says it has delivered more than 750 projects for over 300 clients and employs more than 180 specialists. BIM Capital is a Saudi closed joint‑stock investment company focused on investment management, fund operation and financial advisory services.

Outlook and timeline

AXS and BIM Capital are targeting the fund’s first closing in the fourth quarter of 2026. The development and construction phase is expected to take six quarters—approximately 18 months—from first closing to commercial operations. The establishment and private placement of the fund remain subject to approval or non‑objection from the Capital Market Authority and completion of all relevant regulatory requirements.