LEAP 2026: $2.5B in New Tech Deals in Riyadh
The technology event LEAP 2026 in الرياض announced around USD 2.5 billion (about SAR 9.4 billion) in new commitments on its second day, spanning data centers, cloud services, technology localization, and research and development. The pledges are aimed at strengthening Saudi Arabia's position as a global digital and AI hub, with capacity serving government, enterprise, and cloud providers.
The largest single announcement came from Al Moammar Information Systems (MIS), which committed USD 1.2 billion (about SAR 4.5 billion) to expand its data centers in the Kingdom to a total computing capacity of 192 MW. NHC Innovation announced roughly USD 800–880 million (about SAR 3.0–3.3 billion) to develop data centers at Khuzam Digital Valley, targeting 65 MW of total capacity by 2033.
Cloud and localization deals
On the cloud side, موبايلي and ByteDance's BytePlus revealed a joint investment of more than USD 150 million (about SAR 563 million) to launch BytePlus cloud services in the Kingdom. AWS is preparing to open its first cloud infrastructure region in Saudi Arabia in December 2026, backed by more than USD 5.3 billion (about SAR 19.9 billion) in planned investment, while the Microsoft Azure cloud region is set to become available in November 2026, enabling local data hosting.
Localization and R&D also featured strongly. Hewlett Packard Enterprise (HPE) is expanding its "Saudi Made" program to include localized integrated technology solutions and opening a Saudi Innovation Center with Intel to support AI startups and local talent. Nokia is opening its first R&D center in the Kingdom in الرياض, focused on AI-powered network automation, 6G development, and localized telecom software. Alfanar committed USD 150 million (about SAR 563 million) to manufacture data center components locally.
By the close of the four-day event, total announced commitments across AI infrastructure, data centers, cloud computing, technology manufacturing, and venture capital reached nearly USD 15 billion (about SAR 56 billion) — a signal of accelerating investment in the Kingdom's digital economy and the local tech jobs and services it supports.
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