Billions in New Technology Investment Announced on Day Three of LEAP 2026

Day Three of LEAP 2026 delivered a string of multi‑billion‑riyal and multi‑million‑dollar commitments to Saudi Arabia’s tech sector, highlighted by NHC Innovation’s SAR 3.3 billion Khuzam Digital Valley data centre project and an announcement from AWS that its first Saudi Arabia Region will open this December backed by more than $5.3 billion in investment. The day also saw fresh venture capital and corporate partnerships, including a $20 million MENA AI investment and M&A initiative from Foras AI, a strategic Digital Government Authority (DGA) partnership with STV, and a $5.2 million seed round for Dubai‑based hospitality platform estaie to expand into Saudi markets.

“LEAP brings together the global technology ecosystem at a time when Saudi Arabia is accelerating its ambitions across artificial intelligence, cloud and digital infrastructure,” said Eng. Rayan Alaql, Chief Executive Officer of NHC Innovation. “At LEAP 2026, we announced the Khuzam Digital Valley data center project, with total investments of SAR 3.3 billion to be deployed across multiple phases, and welcomed NAVER Innovation and BytePlus as its first anchor customers.”

The Khuzam Digital Valley will be developed across multiple phases and has already secured NAVER Innovation and BytePlus as anchor customers, positioning the project as a cornerstone for cloud, AI and enterprise workloads in the Kingdom. NHC Innovation framed the investment as foundational to supporting growing demand for advanced technologies and to facilitating collaboration between global technology partners, businesses and innovators.

Other major commitments and partnerships revealed

• AWS: Preparing to launch its first AWS Region in Saudi Arabia in December, supported by more than $5.3 billion in investment.
• Foras AI: Announced a $20 million investment and M&A initiative to back and acquire AI companies across the MENA region.
• DGA & STV: Formed a strategic partnership in which STV will provide technical expertise, startup support and investment assessment via its AI and emerging technologies fund, while DGA will enable government use cases, an innovation sandbox and procurement pathways.
• estaie: Closed a $5.2 million seed round to accelerate expansion into Saudi Arabia, using AI across pricing, inventory and bookings for flexible accommodation.

Panels and discussions at LEAP broadened the picture beyond headline investments. At “Investing in the Future of Mobility,” speakers Mercedes Cebrian (CEO and Founder, Parkron), Dong‑su Kim (CEO, LG Technology Ventures) and Ahmed Mhiri (CEO, Free2Move) explored investor interest that is shifting from purely electric vehicles into autonomous systems, connected infrastructure and logistics technologies that offer clear commercial pathways. Yannick Theler, CEO of Steer Studios, focused on the long game in gaming, arguing for sustained investment in talent, skills and local capabilities to build a competitive industry from the ground up.

The combination of large infrastructure projects, international cloud expansion and targeted venture capital commitments suggests a layered investment strategy across the Kingdom’s technology ecosystem. Annabelle Mander, Executive Vice President and Co‑Creator of LEAP at Tahaluf, said: “LEAP has always been where ambition turns into commitment. What we have seen across Day Three is investment taking shape at every level of Saudi Arabia’s technology ecosystem, from major digital infrastructure and AI investment to startup growth and new global partnerships.”

Looking ahead, organisers and investors signalled that these announcements are intended to catalyse follow‑on activity: infrastructure to host data and cloud services, funds to scale AI startups, and public‑private partnerships to pilot government use cases. Together, the moves unveiled on Day Three aim to deepen the commercial and operational foundations for technology growth across the Kingdom.