Humain, Saudi Arabia’s new AI company, has started work on its first data centers in Riyadh and Dammam, according to CEO Tareq Amin. Each site is planned to open in early 2026 with an initial capacity of about 100 megawatts. The company has received the local approval to buy 18,000 of Nvidia’s (NVDA) newest AI chips, pending final clearance from U.S. authorities.
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U.S. Chipmakers in Focus
Along with Nvidia, Humain is working with Advanced Micro Devices (AMD) under a $10 billion deal signed earlier this year to build AI infrastructure in Saudi Arabia. The agreement could lead to a joint venture, giving AMD an equity stake in a Saudi fund.
Humain has also partnered with Groq Inc., a California-based AI chip company, to power its new chatbot called Humain Chat. The service is already live in Saudi Arabia and will roll out to the wider Middle East in October.
Beyond Groq, Humain has drawn in big U.S. tech names as partners, including Qualcomm (QCOM) and Cisco (CSCO). Reportedly, the company has also held early talks with Elon Musk’s xAI about a potential data center project in Saudi Arabia.
Saudi Arabia Expands AI Ambitions
Humain, backed by Saudi Arabia’s sovereign wealth fund, was launched in May during President Donald Trump’s visit to Riyadh. That visit helped clear the way for the kingdom to gain wider access to advanced U.S. semiconductors.
The company plans to build 1.9 gigawatts of data center capacity by 2030, part of its goal to make Saudi Arabia a leading hub for artificial intelligence in the region.
Alongside this, Humain Ventures, a $10 billion fund created this summer, has already begun investing. However, details on which projects have received funding have not been disclosed.
Which Semiconductor Stock Is the Better Buy?
We used the TipRanks Stock Comparison Tool to see how Wall Street views AMD, Nvidia, Qualcomm, and Cisco. Currently, analysts are most bullish on Nvidia, which carries a Strong Buy consensus rating and an average price target of $199.94, implying about 11% upside.
Meanwhile, AMD, Qualcomm, and Cisco all hold a Moderate Buy rating. Among these, Qualcomm offers the highest upside potential at 14.4%, followed by Cisco at 13.1%, and AMD at 12.6% over the next 12 months.
