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Cloud & Data CentersFunding|July 16, 2026, 02:21 PM
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PIF And I Squared Set $1 Billion Saudi Digital Infrastructure Plan

BySendTech Times Cloud & Infrastructure DeskNewsroom-edited, source-reviewed coverage|Source: Data Center Dynamics
Newsroom brief

Data Center Dynamics reported that I Squared Capital signed a non-binding MoU with Saudi Arabia’s Public Investment Fund covering up to $2 billion in PIF-owned real estate and infrastructure assets, with half of the planned deployment earmarked for digital infrastructure. The MoU does not name the first assets, sites, financing timetable or data-centre capacity tied to the $1 billion allocation.

Verified against source materialEdited by SendTech Times Cloud & Infrastructure Desk
PIF And I Squared Set $1 Billion Saudi Digital Infrastructure Plan
Image source: Data Center Dynamics

Saudi Arabia’s Public Investment Fund has a new non-binding infrastructure agreement that sets aside up to $1 billion for digital infrastructure assets.

Data Center Dynamics reported that I Squared Capital signed an MoU with PIF covering up to $2 billion in PIF-owned real estate and infrastructure assets.

Half of the planned deployment is earmarked for digital infrastructure projects, while the other 50 percent is assigned to district cooling.

The report said both categories were described as critical enablers for the real-estate sector.

$2 Billion MoU Splits Digital Infrastructure And District Cooling

The DCD account quoted PIF’s Saad Alkroud as describing the fund’s real-estate and infrastructure pipeline as a draw for investors.

I Squared chairman and managing partner Sadek Wahba said the MoU moved the relationship from partnership to action.

The agreement is still an MoU, not a named project financing close.

The MoU did not identify the first PIF assets covered by the digital infrastructure allocation, the equity structure, the project sites or the timetable for deployment.

PIF Data Centre Context Includes Humain, AWS And xAI

The DCD account cited PIF’s recent data-centre activity through Humain, the AI data-centre company the fund established in May 2025.

It said Humain aims to deliver 6.6GW of data-centre capacity over the next decade.

The same account said PIF agreed to buy 18,000 Nvidia GB300 chips, with Humain saying several hundred thousand more were on the way.

It also cited a partnership with AWS for a $5 billion AI Zone and the deployment of Groq chips for inference.

PIF also set up a joint venture with AMD and Cisco in November 2025 to deploy 1GW of data-centre capacity.

The source said the fund announced a 500MW Saudi data-centre project with Elon Musk’s xAI.

I Squared Portfolio Includes Data Centres, Fibre And Towers

The DCD account said I Squared Capital was founded in 2012 and has $60bn in assets under management.

Its digital-infrastructure holdings include European data-centre firm nLighten, APAC data-centre operator BDx, fibre firms Exa and Lightstorm, and thousands of cell tower sites.

Data Center Dynamics said the investor’s data-centre record also includes the 2021 acquisition of Mexican operator Kio, the purchase of Brazilian operator Elea earlier this year and the May purchase of 10 US data centres from Cogent.

The MoU does not name the first Saudi digital-infrastructure assets, disclose the financing timetable, identify project sites, or state how much data-centre capacity would be attached to the $1 billion allocation.

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