Nvidia, AMD, Qualcomm in Focus as Saudi AI Firm Humain Builds Data Centers

Nvidia, AMD, and Qualcomm are in focus as Saudi Arabia's new AI company, Humain, starts building its first data centers in Riyadh and Dammam. The company has received approval to buy 18,000 of Nvidia's newest AI chips and has partnered with AMD, Groq, Qualcomm, and Cisco. Humain 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. Analysts are bullish on Nvidia, with a Strong Buy consensus rating and an average price target of $199.94.

Saudi Arabia's newly established AI company, Humain, has begun construction of its first large-scale data centers in Riyadh and Dammam, set to launch in early 2026. This initiative aligns with the country's Vision 2030 technological aspirations and positions Saudi Arabia as a potential regional AI powerhouse.

The data centers, currently under construction, are expected to have an initial capacity of up to 100 megawatts. They will be equipped with cutting-edge semiconductors sourced from leading US chipmakers, including Nvidia and AMD. Humain has received local regulatory approval to import 18,000 of Nvidia's latest AI chips, part of a larger agreement to deliver hundreds of thousands of units [1].

In addition to Nvidia, Humain has formed a significant partnership with Advanced Micro Devices (AMD) under a $10 billion agreement. This collaboration underscores the scale and ambition of Saudi Arabia's AI initiatives and highlights the strategic importance of the project [2].

The establishment of these data centers and the partnerships with US tech giants have far-reaching implications. According to Wedbush Securities analyst Dan Ives, this development represents a "watershed" moment in the global AI competition, potentially reshaping global AI dynamics and bolstering Saudi Arabia's technological capabilities [1].

Humain is also working with other notable tech companies, including Groq Inc., Qualcomm, and Cisco Systems. Groq Inc. will power Humain's AI chatbot, Humain Chat, which is already live in Saudi Arabia and set to expand across the Middle East by October. The company aims to deploy 1.9 gigawatts of data center capacity by 2030, positioning the kingdom as a regional AI hub [2].

Analysts are bullish on Nvidia, with a Strong Buy consensus rating and an average price target of $199.94. The company's partnership with Humain and other global AI initiatives are expected to drive its growth and profitability [3].

References:
[1] https://theoutpost.ai/news-story/saudi-arabia-s-humain-launches-ai-data-centers-with-us-chip-technology-19500/
[2] https://finance.yahoo.com/news/nvidia-amd-qualcomm-gain-spotlight-172951747.html
[3] https://www.capacitymedia.com/article/2f8v1q3pcdm0arw727qio/news/article-how-humain-plans-to-use-us-chips-in-new-saudi-arabia-ai-data-centres