SAR675m fund planned for two Saudi AI data centres

Axelerated Solutions for Information and Communication Technology has signed an agreement with BIM Capital to establish a SAR675m investment fund for two artificial-intelligence-ready data centres in Saudi Arabia.

Each Tier III facility would initially provide 10MW of capacity, expandable to 20MW. The resulting portfolio would therefore begin with 20MW and could ultimately reach 40MW.

Axelerated is expected to act as an investor while also taking responsibility for design, engineering, construction, facilities management and operation. The proposed centres are being designed for at least 99.982 per cent operational availability.

The fund would have a 10-year term, with provision for two additional one-year extensions. Its establishment remains conditional upon receiving approval or non-objection from the Capital Market Authority within 180 days; that period may be extended by agreement.

The structure provides an identifiable future market for power and cooling systems, modular data-centre equipment, backup generation, network infrastructure and specialist engineering. Procurement timing will depend on regulatory approval and the subsequent development programme.

Sources: Mubasher, company disclosure, Argaam.