Abdullah Al-Sawaha: “Lib 2026” Attracts $15 Billion in AI Investments

Minister of Communications and Information Technology, Eng. Abdullah bin Amer Al-Sawaha, announced that the LEAP 2026 edition in Riyadh, featuring participation from 1,800 companies, will showcase major announcements in the artificial intelligence and technology sectors. He noted that the estimated value of launches and expected investments through LEAP amounts to approximately $15 billion.

This statement was made during Al-Sawaha’s opening address at the conference in the Saudi capital, Riyadh, under the theme “To New Worlds.” The event was attended by Omar Al-Omar, Minister of State for Communications and Information Technology and Acting Minister of Media and Culture, alongside technology and innovation leaders, investors, experts, and startups from around the globe.

Al-Sawaha emphasized that resilience and flexibility bolster the Kingdom’s capacity to overcome the repercussions of regional conflicts and sustain growth. He stated that achievements realized through LEAP since its inception five years ago represent a revolution in technology conferences, adding that the Kingdom continues to solidify its position as a global hub for the digital economy and artificial intelligence, thanks to the vision of Crown Prince Mohammed bin Salman. He affirmed that progress made over the past years reflects Saudi Arabia’s ability to transform ambitions into tangible achievements.

He further described LEAP’s journey, which began five years ago, as having evolved into a global platform bringing together governments, companies, and innovators. Al-Sawaha pointed out that the Kingdom does not merely issue promises but translates them into concrete investments and projects.

Highlighting that the conference embodies the transformation story led by the Kingdom, he noted that many global companies that announced their investments in previous editions of LEAP have returned to expand their operations, underscoring the attractiveness of the Saudi market and the confidence of international investors.

Al-Sawaha stated that the record-breaking turnout for LEAP 2026 reflects this confidence, with more than 150,000 participants registering since the first day. He added that these figures send a clear message that the Kingdom is open to business and investment and continues to enhance its productive capacities in the digital economy.

For his part, Tariq Amin, CEO of Hewa Human, said that Saudi Arabia possesses various competitive advantages for leveraging artificial intelligence, foremost among them being abundant energy.

Speaking during the conference opening, Amin noted that all economic sectors will change amid rapid AI developments.

The CEO of Hewa Human, a company under the Public Investment Fund specializing in providing a comprehensive suite of AI capabilities, explained that AI is driving the largest transformation in history. He described investment in AI infrastructure as the largest investment ever, exceeding trillions of dollars.

“When we look at the impact of AI on the world, we realize that all government, public, and private sectors will rely on AI to harness innovation and increase efficiency,” he said.

He added that approximately 40% of work is currently being performed through AI, a figure expected to accelerate soon. He clarified that this does not imply a negative impact on the labor market, stating, “We will always find important activities performed by workers to achieve further innovation.”

Amin outlined that the foundations required for AI expansion include energy, alongside capital, geography, and human capital. He concluded, “I believe Saudi Arabia has all the necessary capabilities to expand in the artificial intelligence sector.”

He noted that Hewa Human has achieved significant progress in a short period, experiencing continuous growth supported by the Kingdom’s substantial capabilities in the AI sector.

For her part, Dr. Lisa Su, Chair of the Board and Chief Executive Officer of AMD, stated that the partnerships linking the company with Saudi Arabia, including its long-standing collaboration with Aramco and Humain, reflect a growing recognition of the importance of computing as the foundation for artificial intelligence and future productivity.

In her opening remarks, Su noted that the world is moving toward a greater need for computing capabilities, pointing out that companies and nations are striving to become smarter and more productive, which requires advanced, computing-ready infrastructure.

She added that the next phase depends on the integration of several elements, including energy, computing, and applications, alongside collaboration between companies and governments, emphasizing that rapid advancements in these fields open up broad opportunities to accelerate innovation and growth.

AMD also announced its intention to move forward in the Kingdom with the next generation of AM4 technologies, which are set to begin next year, a step reflecting the expansion of technical cooperation between AMD and Saudi Arabia in the fields of advanced computing and artificial intelligence.

Microsoft announced at LEAP 2026 that its new cloud data center region in the Kingdom, “Saudi Arabia East,” will become available to customers in November 2026. This will enable government entities and private sector institutions to run cloud workloads and AI applications locally, enhancing their capacity for innovation and growth in the intelligent era.

Eng. Nasser Al-Nasser, Undersecretary of the Ministry of Communications and Information Technology for Technology, said, “The availability of Microsoft’s cloud region represents a significant step in accelerating the adoption of artificial intelligence, empowering innovators, entrepreneurs, and institutions across various sectors to create new growth opportunities and enhance competitiveness.”

For his part, Ayman Al-Ghamdi, President of Microsoft Arabia, stated, “The impact of this achievement extends beyond bringing cloud infrastructure closer to customers; it provides institutions in the Kingdom with the necessary foundation to transition artificial intelligence from the experimentation phase to the core of daily operations.”

He added, “By combining local cloud and AI infrastructure with security and resilience, skills development, and an expanded partner ecosystem, we are helping Saudi institutions transform their AI investments into tangible, measurable value for their businesses, customers, and the national economy.”

Al-Sowahli announced during a press conference that the size of the Kingdom’s digital economy has risen to 522 billion Saudi riyals (approximately $139 billion), representing a cumulative growth of over 75% since the launch of Saudi Vision 2030.

The minister stated that the digital economy’s contribution has grown to 16% of GDP, while the size of the telecommunications and information technology market has exceeded 199 billion riyals, making the Kingdom the largest digital economy and the biggest telecommunications and technology market in the region.

Al-Sowahli noted that the number of jobs and tech talents has increased from approximately 150,000 at the baseline to more than 410,000 in 2026, alongside the growth of the entrepreneurship ecosystem and the rise of nine unicorn tech companies, which account for nearly half of the region’s unicorns.