Driving the news: Nebius, a specialist in AI cloud services, plans to contract up to 50 megawatts (MW) at the AI complex that HUMAIN and DataVolt are developing in Oxagon, NEOM’s industrial city. The companies signed a preliminary framework agreement and announced it on Tuesday.
Why it matters: The deal gives the project its first commercial commitment. It also shows that global buyers want the AI infrastructure Saudi Arabia is building.
The 50MW represents roughly half of the first 100MW now under construction. That block forms part of a 360MW first phase. Nebius expects its capacity to come online gradually from the fourth quarter of 2027.
HUMAIN and DataVolt will supply the computing capacity. Meanwhile, Nebius plans to use computing infrastructure built on Nvidia processors and technologies to expand its AI cloud services. The parties signed the agreement on the sidelines of Nvidia’s GTC Berlin conference.
A Fast Start for Oxagon
The agreement lands as the global AI sector races to build specialised data centres and secure massive computing power. As a result, energy, infrastructure and connectivity have become decisive assets.
HUMAIN CEO Tareq Amin said the deal marks the project’s first commercial commitment. Moreover, he said it reflects global demand for the infrastructure the partners are developing. He added that HUMAIN aims to build a complete AI ecosystem, spanning infrastructure, computing platforms, models and applications.
Amin also pointed to the speed of progress. Talks reached an advanced stage about six weeks after construction began, he said. In his view, that pace proves the project can attract customers and turn demand into long-term contracts.
Amin earlier said that AI ambition only matters when companies turn it into infrastructure, compute and capacity that customers can use. The Nebius deal puts that principle into practice.
DataVolt CEO Rajit Nanda highlighted Oxagon’s strengths. The city offers digital connectivity, developed land and scalable energy, he said. Together, those features support large AI projects aimed at global markets.
NEOM CEO Aiman Al-Mudaifer said the agreement reflects rising global demand for AI-ready infrastructure. Furthermore, he said it underlines Oxagon’s role in attracting international technology firms and building an advanced industrial and technology ecosystem inside NEOM.
By the numbers:
- 50MW: the maximum capacity Nebius plans to contract.
- 100MW: the first capacity under construction, and Nebius’s share is roughly half.
- 360MW: the planned capacity of the project’s first phase.
- 5GW: the planned size of DataVolt’s full Oxagon campus. Reuters reported the wider campus plan.
- Q4 2027: when Nebius capacity begins to come online.
- SAR 18.75 billion ($5 billion): DataVolt’s initial investment for phase one, announced with NEOM in February 2025.
- 6GW by 2034: HUMAIN’s capacity target.
Saudi Arabia’s Wider AI Push
The big picture: The Nebius agreement builds on rapid momentum. HUMAIN is an AI company that belongs to Saudi Arabia’s Public Investment Fund (PIF). It stepped in as master planner for the Kingdom’s national AI compute needs after its 2025 launch, and its Oxagon work follows a strategic framework with DataVolt from November 2025. The partners broke ground on the 100MW facility on 31 August.
Oxagon also offers practical advantages. Firms expect the project to benefit from pre-zoned industrial land, large-scale energy resources and low-latency connectivity through subsea cables. In addition, the International Energy Agency estimates that data centres consume 1% to 1.3% of global electricity demand. That figure makes access to reliable, renewable power a major selling point. Oxagon’s executives have said the campus will run entirely on renewable energy.
The timing matters for Saudi Arabia’s broader strategy. The Kingdom and its Gulf neighbours are accelerating their AI build-outs to capture surging global demand for computing power. Consequently, each signed customer strengthens the case that the Kingdom can convert AI ambition into working capacity.
What’s next: Nebius and the partners must now move from the preliminary framework to a final contract. Meanwhile, construction continues on the first 100MW. If the schedule holds, Nebius capacity will begin arriving in the final quarter of 2027, and Oxagon will have its first global tenant in operation.
