LEAP Riyadh 2026 Eyes More Than $15 Billion in Investment Deals
Saudi Arabia is set to announce more than $15 billion in investment deals with global partners during LEAP 2026 in Riyadh, as the Kingdom accelerates efforts to establish itself as a global hub for artificial intelligence and advanced technologies.
Global Tech Companies Expand in Saudi Arabia
Saudi Communications Minister Abdullah Al-Swaha said the investment announcements would involve major global partners, including HUMAIN, AMD and Adobe, among others.
He said some of the commitments extend a $20 billion investment package announced during Crown Prince Mohammed bin Salman’s visit to the United States.
Several international technology companies also announced expansion plans during the conference, which runs through the end of the week.
Qualcomm said it will work with King Abdullah University of Science and Technology to develop sixth-generation, or 6G, technologies while expanding its partnership with HUMAIN.
Adobe, meanwhile, will become the first international customer to run workloads on HUMAIN’s accelerated infrastructure powered by the US company’s technology.
At the conference’s opening, Adobe Chief Executive Officer Shantanu Narayen announced that the company would make a range of its AI-powered software and creative tools available free of charge to more than 27 million people in Saudi Arabia, with a value exceeding $4 billion.
Saudi Arabia Pushes AI and Digital Economy Growth
Al-Swaha said Saudi Arabia continues to rank as the strongest and fastest-growing digital economy this year despite ongoing challenges, putting the growth of the Kingdom’s digital economy at nearly 70%.
He said Saudi Arabia has so far produced nine startups with market valuations exceeding $1 billion.
The Kingdom has 411,000 technology workers, Al-Swaha said, adding that if Saudi Arabia were compared with the 50 US states as technology hubs, its workforce would place it fifth.
Women account for about 36% of the technology sector’s workforce, according to the minister.
Saudi Arabia’s technology strategy is centered on three key elements — computing, capital and customers — as the Kingdom seeks to become a major partner for companies operating in artificial intelligence.
It also aims to position itself as the country that most strongly enables AI development, innovation and investment.
Infrastructure Investment Targets for 2030
The International Monetary Fund estimates that artificial intelligence could increase Saudi Arabia’s gross domestic product by as much as 6% over the next decade if the Kingdom succeeds in accelerating investment in AI technologies, narrowing readiness gaps with advanced economies and expanding exports of AI services.
Al-Swaha said Saudi Arabia is continuing to strengthen the infrastructure needed for an AI-driven economy, including power, computing capacity and connectivity.
By 2030, the Kingdom aims to provide more than 12 gigawatts of power, more than 20 submarine cables and about 80 square kilometers of land for the AI sector.
The value of Saudi Arabia’s digital economy has risen 75% since the launch of Vision 2030, reaching 522 billion riyals, according to Al-Swaha.
Technology-sector employment has also increased to 410,000 jobs, while Saudi Arabia has become the world’s top-ranked country for digital readiness and remains among the leading countries in global technology indicators.
LEAP 2026 Expands Its Technology Focus
LEAP 2026 features dedicated tracks covering artificial intelligence through the DeepFest program, as well as financial technology, healthcare, sports, space, gaming and infrastructure.
The event is also introducing new platforms, including Sports Tech Hub and World Tech Zone.
Alongside the conference, the Digital Saudi exhibition features more than 20 government digital launches, the signing of 30 agreements and 15 panel discussions.