On February 10, 2025, Saudi Arabia unveiled a monumental $14.9 billion investment in artificial intelligence (AI) during the LEAP 2025 Tech Conference held in Riyadh.

The conference is set to feature 1,800 global tech brands, including 680 startups and 1,000 expert speakers, covering diverse sectors such as space, gaming, education, and smart cities.

Saudi Minister of Communications and Information Technology, Eng Abdullah Alswaha, emphasized that these investments align with Crown Prince Mohammed bin Salman's vision for Saudi Arabia to become a global leader in technology and innovation.

Notable investments from major companies include Salesforce's $500 million, Databricks' $300 million, Tencent Cloud's $150 million, and SambaNova's $140 million, collectively enhancing the AI landscape.

The conference's first day successfully attracted investments and partnerships worth over $14.9 billion, focusing primarily on infrastructure and AI.

The global AI market was valued at $638 billion in 2024, with Saudi Arabia's AI market projected to grow to $4 billion by 2033, driven by initiatives like Project Transcendence.

Ahmad Al-Khowaiter of Aramco highlighted the necessity for collaboration among multiple companies to effectively harness AI technology due to the scale of operations.

Tech giants such as Google, Qualcomm, and Alibaba Cloud are launching localized AI innovation initiatives, further contributing to the region's growing investment landscape.

The King Abdullah Financial District Development and Management Co. partnered with Huawei to implement smart city solutions, enhancing digital experiences across a significant development area.

Alswaha stressed the importance of inclusivity in technology to bridge divides in the digital age, aiming for collective advancement in innovation.

The event is organized by the Ministry of Communications and Information Technology, SAFCSP, and Tahaluf Company, showcasing Saudi Arabia's commitment to becoming a regional AI hub.

The Saudi Ministry of Communications and Information Technology reported that over $10.9 billion of the total investments is allocated to infrastructure, AI, and startup funding.