Leap23 announced more than $9 billion in investments to support emerging technologies, digital entrepreneurship, tech startups, and strengthen Saudi Arabia’s position as the largest digital market in the Middle East and North Africa on Monday to kick off a four-day event in Riyadh (MENA).
At the event, which is being held at the Riyadh Front Exhibition & Conference Center till February 9, Eng Abdullah bin Amer Alswaha, the Minister of Communications and Information Technology (MCIT), announced the investments.
Alswaha confirmed the investments, which included $400 million from Huawei in cloud infrastructure for its services in the kingdom, $2.1 billion from Microsoft in a global super-scaler cloud in the kingdom, $1.5 billion from Oracle to expand its MENA business by launching new cloud areas in the kingdom, and the introduction of a Zoom cloud area in the kingdom in partnership with Aramco.
After establishing a partnership with tech partners Oracle and NVIDIA on the sidelines of the LEAP23 conference in Riyadh, NEOM has made a significant step towards its AI-driven future. Saudi Arabia’s NEOM will provide cutting-edge AI throughout the development through its tech subsidiary TONOMOUS.
The first business to be founded as a full-fledged subsidiary of NEOM was TONOMOUS. For a wide spectrum of users, including the corporate sector and governmental organisations, the collaboration is intended to drive AI-powered innovation.
Customers will get direct access to NVIDIA’s cutting-edge AI technology through TONOMUS, allowing them to benefit from the planned Oracle Cloud Region at NEOM. Oracle’s cloud computing infrastructure will be hosted by the hyper scale data centre ZeroPoint DC and through the digital cloud platform of TONOMUS.
