NEOM, DataVolt Secure US$5bn Deal for AI Data Centre

The second day of LEAP 2025, Saudi Arabia’s premier global technology event, saw investment commitments in technology and artificial intelligence (AI) soar to US$6.13 billion. The announcements reaffirm the Kingdom’s position as a growing hub for digital transformation and AI-driven innovation.

A significant highlight was a US$5 billion partnership between DataVolt and Saudi giga-project NEOM. The deal will establish the first fully sustainable AI data centre with a 1.5-gigawatt capacity in Oxagon, NEOM’s floating industrial city on the Red Sea. The initiative is set to bolster the region’s AI capabilities while promoting environmentally sustainable digital infrastructure.

Saudi telecoms provider Mobily also unveiled plans to invest US$911 million in digital infrastructure projects, including submarine cables and the expansion of data centres across the country. Zoom announced a US$75 million investment to enhance AI development and establish new data centres, while Saudi Arabia Railways (SAR) pledged US$51 million towards private fibre-optic networks. Meanwhile, SKYFive, a leader in aviation telecommunications, committed US$100 million to non-terrestrial communications, aiming to support the advanced air mobility sector.

“As we reach the halfway point of LEAP 2025, we have already exceeded confirmed investment levels from previous editions. Since LEAP launched four years ago, we have now surpassed US$40 billion in total confirmed investments,” said Michael Champion, CEO of Tahaluf, which co-organises LEAP with the Saudi Ministry of Communications and Information Technology (MCIT) and the Saudi Federation for Cybersecurity, Programming, and Drones (SAFCSP).

“AI and data centre investments are leading the way, with increasing collaboration between local and global enterprises. This reflects LEAP’s role as a catalyst for international partnerships and transformative tech projects,” he added.

Smart Contact Lenses Offer Vision of the Future

At LEAP’s newly introduced Tech Arena, Dr Valentyn Volkov, Co-Founder of XPANCEO, presented advancements in smart contact lenses powered by AI and next-generation materials.

“At LEAP, we are witnessing the future unfold before our eyes. Today, we see that future literally on our eyes with technology set to revolutionise human interaction with both real and digital environments,” Dr Volkov told attendees during a session titled Beyond Silicon: How Smart Contact Lenses Are Shaping the Next Generation of Computing.

XPANCEO aims to deliver a working prototype by the end of 2026. The ultra-thin lenses, no more than a millimetre thick, will integrate a micro-projector, biosensors, a camera, adaptive prescription technology, batteries, and data antennas. Dr Volkov highlighted their potential for applications in health monitoring, augmented reality, and enhanced vision.

“The next phase of smart technology is not about making devices smaller but seamlessly integrating them into daily life,” he said. “This is no longer science fiction – it is a near reality.”

Saudi Arabia Targets Gaming Boom

Addressing delegates on the CODE Stage, Mohammed Robayan, Deputy Minister for Technology at MCIT, underscored Saudi Arabia’s ambition to leverage the US$220 billion global gaming industry for economic growth.

“With Vision 2030, we are moving beyond oil dependency. Gaming and esports present a significant opportunity for job creation and GDP expansion,” he said. Initiatives such as the Ignite Digital Content Programme and the Saudi Digital Academy, which has trained over 1,500 individuals in gaming and esports, are pivotal to this effort.

Robayan also highlighted the Gaming Sector Financing Programme, which aims to inject SAR 300 million into small and medium-sized enterprises within the gaming industry.

Accenture Predicts AI-Driven Business Autonomy

New research from Accenture, unveiled at LEAP 2025, predicts a shift towards AI-powered business autonomy. The Technology Vision 2025 report suggests AI will redefine enterprise operations, with 65% of Saudi executives acknowledging the urgency of reinvention in their digital strategies.

“As AI adoption accelerates, businesses will experience a paradigm shift in how technology systems are designed and operated,” the report states. “AI will evolve into a development partner, integrate with robotics, and enhance human potential.”

Julie Sweet, Chair and CEO of Accenture, reinforced the importance of trust in AI-driven processes: “Unlocking AI’s full potential requires leaders to systematically develop trust in its performance. With the right approach, AI will drive unprecedented transformation in the way businesses and people interact.”

LEAP 2025 continues to attract global tech leaders, fostering innovation across multiple sectors and positioning Saudi Arabia as a key player in the digital economy.