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Adam Selipsky, CEO of Amazon.com Inc. Web Services (AWS), at the Collision conference on Tuesday, June 27, 2023 in Toronto, Ontario, Canada. Getty Images—Bloomberg
Saudi Arabia has announced that companies including Amazon Web Services will invest more than $10 billion to build data centers in the country as the desert kingdom seeks to modernize and diversify its oil-dependent economy.
The deal was announced at the annual technology event LEAP in the capital Riyadh and will support the development of technology startups, the Saudi Press Agency reported. AWS, known as Amazon’s cloud business, said its plans include spending $5.3 billion to create a new infrastructure region that will open in 2026 and help train local developers.
Amazon is one of several global technology giants, including Alphabet Inc.’s Google and Microsoft, that set up regional headquarters in Saudi Arabia last year as foreign companies risk losing government contracts if they move operations there. The investment will be a boon to Saudi Arabia’s efforts to attract foreign investment and its plans to become the Middle East’s technology hub.
Saudi-based data center company DataVolt also plans to invest $5 billion to develop data centers with a capacity of more than 300 megawatts. IBM Corp. plans to allocate $250 million for a software development center, and software company ServiceNow is spending $500 million to localize its services in Saudi Arabia.
According to SPA, Dell Technologies Inc. also plans to open a manufacturing fulfillment center in the country.
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