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June 29, 2022


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“LEAP” conference announces investments exceeding 12 billion dollars to support the technology sector

The leap 24 international technical conference announced today the largest technology launches and investments of its kind in the region, worth more than USD 12 billion, to support the emerging and deep technologies, innovation and cloud computing sectors, develop digital skills, and stimulate investment in tech startups, thus contributing to strengthening the kingdom’s position as a technology and Innovation Center, as an attractive environment for world-leading tech companies, and as the largest digital economy in the Middle East and North Africa.

The announcement came during the opening speech of His Excellency engineer Abdullah bin Amer Al-Swaha, Minister of communications and information technology, with the launch of the conference, which continues until next Thursday, stressing that these huge launches and investments came with the support of His Highness Prince Mohammed bin Salman, Crown Prince and prime minister, enabling the technology sector and supporting the growth and prosperity of the digital economy, to achieve the goals of the kingdom’s Vision 2030.

During the first day of the conference, Amazon Web Services announced an investment of up to 5.3 billion dollars to create a super-capacity cloud zone in the kingdom. IBM announced a USD 250 million investment to establish the first global software development center in the kingdom.

ServiceNow announced a USD 500 million investment to launch its first data center in the region from the kingdom, in addition to training and developing national talents.

The conference also witnessed today the announcement of Datavolt company, a leader in the development and construction of modern data centers, its plan for an investment of 5 billion dollars to build sustainable and innovative data centers in the kingdom with a capacity of more than 300 megawatts.

DELL also announced its intention to open a manufacturing, distribution and fulfillment center in Saudi Arabia, which is the first in the MENAT region.

Aramco also announced today the launch of the world’s first generative artificial intelligence model in the industrial sector (aramcoMETABRAIN), in addition to the establishment of the Saudi innovation laboratory SAIL as an Integrated National Innovation Center and an enhancer of the kingdom’s digital future.

To develop the digital skills of national cadres, Uipath Academy announced the launch of the first Automation Academy in the region to train national talents.

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