Blackstone has formed a $3bn partnership with Humain, Saudi Arabia’s state-backed artificial intelligence company, to develop and operate a network of large-scale data centres across the kingdom, marking a major step in the Gulf’s digital infrastructure expansion, according to a report by Bloomberg.

The partnership, announced at Riyadh’s Future Investment Initiative, will see Blackstone-owned AirTrunk collaborate with Humain to finance, construct, and manage hyperscale data centres designed to support the rapid rise of AI and cloud computing demand.

Humain CEO Tareq Amin said the collaboration represents “a pivotal moment” for Saudi Arabia’s ambition to become a global AI powerhouse, with the project expected to expand to include additional investors such as BlackRock, KKR, and DigitalBridge.

Founded in May by the Public Investment Fund (PIF), Humain has been tasked with leading the kingdom’s AI strategy and recently began building its first data centres. The company aims to reach 1.9 gigawatts of capacity by 2030 and position Saudi Arabia as the world’s third-largest AI infrastructure provider.

The initiative reflects the Gulf’s growing role as a key financier of global AI infrastructure. It also follows a non-binding agreement between PIF and Aramco for the energy group to take a significant minority stake in Humain, reinforcing the strategic alignment between Saudi Arabia’s technology and energy ambitions.

Blackstone, which manages one of the world’s largest alternative investment portfolios, has rapidly expanded its exposure to data infrastructure. The firm acquired AirTrunk for around $16bn in 2024, adding to what CEO Stephen Schwarzman called a $25bn global data centre platform spanning Australia, Singapore, Japan, Hong Kong, and Malaysia.

Speaking at FII, Schwarzman said AI and data centres are among “the most interesting areas for investment,” though he warned that power supply constraints could limit the sector’s growth.

The Humain venture underscores how private capital is increasingly driving the AI infrastructure race, with Blackstone and other leading buyout firms positioning themselves at the forefront of the next wave of digital transformation.

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