NEOM, DataVolt to launch $5B AI factory in Oxagon

The signing of the agreement

NEOM signed a partnership agreement with DataVolt, a Saudi-based global developer, investor and operator of data centers, to design an artificial intelligence (AI) factory that will operate as an integrated data center with a total capacity of up to 1.5 gigawatts (GW).

The development will take a phased approach, with phase one, funded by an initial investment of $5 billion, expected to be operational by 2028, NEOM said in a statement.

Aligning with Oxagon’s ambition, the 1.5-GW factory will integrate a system for high-density computing and energy-efficient infrastructure to address the global challenges posed by traditional data centers.

As part of the agreement, Oxagon will lease land to DataVolt to develop the facility and provide infrastructure support to achieve net zero emissions.