Saudi Arabia secures $14.9B in AI investments at LEAP 25

ISTANBUL

The fourth edition of the LEAP 25 tech conference kicked off Sunday in Saudi Arabia’s capital, Riyadh, with the first day seeing the attraction of major investments and strategic partnerships exceeding a total value of $14.9 billion in infrastructure and artificial intelligence (AI).

In a statement on its official website, the Saudi Ministry of Communications and Information Technology announced that the first day of LEAP 2025 featured significant launches, qualitative investments and strategic partnerships that reinforce the Kingdom's leadership in AI, advanced technologies and the global digital economy.

The ministry said the $14.9 billion in investments includes qualitative investments exceeding $10.9 billion in infrastructure, AI and funding rounds for startups.

According to the ministry’s website, the total value of launches and investments witnessed in the past three editions of LEAP amounted to $29.3 billion.

The total investment and launch value for the previous edition, LEAP 2024, stood at $13.4 billion, according to the ministry.

The latest edition of the conference is being held with the theme "Into New Horizons," according to the ministry.

Saudi Arabia is hosting the event, organized by the Ministry of Communications and Information Technology, the Saudi Federation for Cybersecurity, Programming and Drones, and Tahaluf, a joint venture between the federation, global event organizer Informa, and the Event Investment Fund.

The conference runs from Feb. 9-12 at the Riyadh International Convention and Exhibition Center. It features over 1,000 international speakers and tech experts, 1,800 exhibitors, and approximately 680 startups.