LEAP 2025: NEOM, DataVolt anounce $5bln deal to establish first sustainable AI data centre in Saudi
LEAP's new Tech Arena spotlights gamut of future tech solutions and products, including revolutionary smart contact lens prototype
Riyadh, Kingdom of Saudi Arabia – The second day of LEAP 2025, Saudi Arabia's award-winning global tech event, produced further announcements totalling US$6.13 billion of investments in technology and Artificial Intelligence (AI).
Leading the roll call of mega investments to continue the evolution of the Kingdom's technology ecosystem, DataVolt and Saudi Arabian giga-project NEOM announced a US$5 billion partnership to establish the first fully sustainable AI data centre with a capacity of 1.5 gigawatts in Oxagon – the floating industrial city being developed in the Red Sea.
Meanwhile, Mobily, the Saudi Arabian telecommunications services company, announced an investment of US$911 million in strategic projects to develop digital infrastructure, including submarine cable projects and the development of data centres across the Kingdom.
Elsewhere, Zoom announced a US$75m investment to boost AI and innovation, and establish new data centres to support technology companies and government entities; Saudi Arabia Railways (SAR) announced a US$51m investment in private fibre-optic networks; while SKYFive, the leading telecommunications and internet services provider for aircraft, revealed a US$100m investment in non-terrestrial communications services focused on championing the advanced air mobility sector.
'As we enter the halfway mark of LEAP 2025, we have already surpassed confirmed investments of previous editions and have surpassed US$40 billion in total confirmed investments since we launched LEAP four years ago,' said Michael Champion, CEO of Tahaluf, which co-organises LEAP with the Saudi Ministry for Communications and Information Technology (MCIT) and the Saudi Federation for Cybersecurity, Programming, and Drones (SAFCSP).
'What we're seeing this year is commitments being made across sectors, with AI and data centres taking the lead and larger collaborations between local and international businesses, which is at the heart of what LEAP is offering as a platform.'
Smart Contact Lens Advances Offer Unique Vision of Future
At LEAP'S all-new Tech Arena, a dedicated space for advanced multi-sector technology demonstrations, Dr Valentyn Volkov, Co-Founder of XPANCEO, explained how an evolution in technology, materials, and AI-based machine-learning is fast-tracking rapid advances in smart contact lenses.
'At LEAP, we see the future happening in front of our eyes; today, we see that future literally on our eyes with revolutionary technology that will completely evolve the way we interact with real and digital worlds,' Dr Volkov told enthralled spectators during a packed session entitled Beyond Silicon: How Smart Contact Lenses Are Shaping the Next Generation of Computing.
With XPANCEO planning to deliver the first working prototype by the end of 2026, Dr Volkov said the company is developing soft and rigid contact lens versions with a goal of producing a final product no more than one millimetre in thickness despite housing an ultra-compact integrated projector, biosensors, camera, adaptive prescription lens, batteries, and data and power antenna.
The invisible and almost weightless device prototype has thousands of potential uses, added Dr Volkov: 'We believe the next step is not about making smart devices smaller; it is more about ensuring seamless integration of those devices into our everyday life – and that's where the smart contact lens comes in. The product can deliver a full-screen, full-colour, augmented reality experience, with potential for private health monitoring, or even superpowers, such as increased night-time visibility, or zooming into objects far in the distance. The device gives the user ultimate control over everything in their field of vision. This is no longer science fiction; it is almost ready-made reality.'
Describing the XPANCEO team as 'modern day alchemists', Dr Volkov outlined a future where smart contact lens users will be able to control their ophthalmic devices through advanced neural interfacing. He added: 'They say the eyes are the mirror of the soul, which is very true, but from a genetic point of view, the eyes are part of the brain. Therefore, if we can connect our neural interfaces onto the lens, users will be able to communicate with the device via their brain,' concluded Dr Volkov.
Saudi Gaming Ecosystem Witnessing Unprecedented Growth
In an opening keynote session on LEAP's CODE Stage, which is highlighting speakers and companies empowering digital national capacities to accelerate the process of digital transformation, Mohammed Robayan, Deputy Minister for Technology at MCIT, reiterated Saudi Arabia's aim to leverage the US$220bn global gaming market to drive job creation and GDP growth.
'As the Kingdom tries to diversify from oil as part of Vision 2030, gaming and esports hold massive potential and are being driven through projects and initiatives such as the Ignite Digital Content Programme, and the Saudi Digital Academy, which has so far trained more than 1,500 people in the field,' said Deputy Minister Robayan.
When it comes to investment, Robayan also highlighted Ignite's 'Gaming Sector Financing Programme', which is seeking to support growth in the private sector through gaming and esports with an investment budget of SAR300 million, increasing the amount of funding and options available to small and medium enterprises operating in the digital content sector.
Accenture Technology Vision 2025 Report Predicts AI Will Unleash Unprecedented Business Autonomy in Future Workplaces
New research from Accenture, announced on the second day of LEAP 2025, has pointed to a new era of digitisation -- where AI continuously learns and drives new levels of autonomy across organisations. The Accenture study suggests trust in AI's performance is the single most important measure organisations need for the technology to achieve its promise.
The Accenture Technology Vision 2025 report explores how the future is being shaped by AI-powered autonomy. As diffusion of AI accelerates across the enterprise sphere and wider society faster than any prior technology, 65 per cent of Saudi-based executives believe it brings new urgency to reinvention and how technology systems and the processes they enable are designed, built, and operated. The research also predicts the technology will increasingly act as a development partner, power robotic bodies in the physical world, and foster a new symbiotic relationship with people to bring out the best in each other.
"The Accenture Technology Vision 2025 gives leaders a look into what's ahead when AI continuously learns, acts autonomously with, and on behalf of, people, and pushes enterprises and people into new and exciting ways to continuously reinvent," said Julie Sweet, chair and CEO, Accenture. 'But unlocking the benefits of AI will only be possible if leaders seize the opportunity to inject and develop trust in its performance and outcomes in a systematic manner, so businesses and people can unlock AI's incredible possibilities."
More than 1,800 tech brands and 680 start-ups are exhibiting at LEAP 2025 this week, alongside a stellar lineup of 1,000-plus expert speakers across 15 stages, highlighting the tech that is shaping tomorrow. For more information on the event and ticket options, visit onegiantleap.com
-Ends-
About LEAP:
Saudi Arabia's desire to shoot for something beyond the realms of the possible presents the ultimate backdrop for LEAP.
LEAP showcases the Kingdom's technology ambition on a global stage as it continues to grow as a hub connecting three continents. The figures speak from themselves as LEAP 2024 had an attendance of over 215,000, making it the most attended tech event in the world. LEAP features the inspiring tech of tomorrow across all major sectors including health, finance, energy, education, digital entertainment, transport, smart cities and more. The event is also led by a speaker faculty of globally celebrated technology innovators, focussing on the most innovative tech case studies from around the world.
LEAP is not like any other tech event, from the ground up the community, stakeholders and project team are challenged every day to do something wildly creative and bold, something that reflects the seismic advances in tech adoption being seen in Saudi Arabia.
About Tahaluf:
Headquartered in Riyadh, Tahaluf brings together strategically important commercial communities from the Kingdom of Saudi Arabia, the wider Gulf region, and from around the world to a portfolio of world-class exhibitions and digital platforms.
Tahaluf is a joint venture partnership between Informa PLC, the world's largest trade show organiser, the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP), and Events Investment Fund (EIF). Sela, the Saudi-owned event production company renowned for its creation of spectacular event experiences, intends to join the joint venture in the near future.
In 2024 Tahaluf was responsible for the award-winning tech events LEAP & DeepFest, as well as 24 Fintech, the Global Health Exhibition, Cityscape Global, Black Hat MEA and CPHI.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
4 hours ago
- Gulf Today
Afghanistan turns to Russia for some food supplies amid Iran-Israel war
Afghanistan is in discussions with Russia to import certain foodstuffs as the conflict between Israel and Iran, one of its largest trading partners, risked cutting off supplies, its agriculture minister told Reuters. As relations between Russia and the Taliban government have been improving, an Afghan delegation is visiting Russia's main economic conference in St. Petersburg this week, meeting Russian agriculture officials. "Afghanistan is definitely aiming for self-sufficiency in its agricultural products. However, we still rely on some food items that come from Iran, and if problems arise there, it will undoubtedly have its effects," Ataullah Omari said on the sidelines of the conference. Iran supplies Afghanistan with some dairy products, among other commodities, and there is widespread concern the week-old war between Israel and Iran could disrupt trade flows Russia - the world's largest wheat exporter - and Kazakhstan are the main suppliers of wheat and flour to Afghanistan. Russia is also supplying sugar and vegetable oil. Omari said that the country is now seeking wheat rather than flour from Russia. Afghanistan, the top buyer of Russian flour in 2024, increased its own wheat production by 10% last year to 4.83 million metric tons. The country's total wheat consumption is estimated at 6.8 million metric tons a year. "For the past four years, since the withdrawal of the Americans, we have been making efforts to provide our essential food supplies ourselves. The remaining amount, including flour and wheat, is supplied annually by Russia," Omari said. "We have requested that Russia send us wheat instead of flour. Additionally, the import of other products that come from Russia to our country annually is progressing well," he added. In April, Russia lifted its ban on the Taliban, which it had designated as a terrorist organisation for more than two decades, paving the way for Moscow to normalise ties with Afghanistan's leadership. Since 2022, Afghanistan has imported gas, oil, and wheat from Russia, marking the first major economic deal after the Taliban returned to power, facing international isolation following 20 years of war against US-led forces. Omari expressed concern about Afghan refugees living in Iran who could become victims of Israel's attacks. The UN Refugee Agency (UNHCR) estimates that nearly 4.5 million Afghan nationals reside in Iran. "Any kind of damage that occurs there is absolutely unsatisfactory for our nation and our people, especially for many of our refugees who live there and are our brothers," he said. Reuters
Gulf Today
10 hours ago
- Gulf Today
GCC visitors spending in 2034 expected to reach $223.7 billion: GCC-Stat
The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) revealed that the expected spending by visitors to GCC countries is projected to reach US$223.7 billion in 2034, while the expected contribution of incoming visitor spending to total exports will reach 13.4 per cent. The Centre also indicated that GCC countries are achieving steady progress in many tourism-related indicators. The data demonstrate that total international visitor spending in GCC countries amounted to US$135.5 billion in 2023, with a 28.9 percent increase compared to the figures recorded in 2019. The GCC countries ranked first in the Middle East and North Africa region's 2024 Safety and Security Index. All GCC countries scored above the regional average of 5.86 points, taking into consideration that the index ranges from 1 to 7 points. They also ranked among the top 6 countries in terms of passport power in the Arab region. WAM
Arabian Post
14 hours ago
- Arabian Post
Toyota to Lift US Prices by Over $200 in July
Toyota Motor Corp has confirmed that it will increase the prices of selected Toyota and Lexus models sold in the United States by an average of US $270 and US $208 respectively, with the changes taking effect in July 2025. The pricing adjustment comes as part of Toyota's standard price‐review cycle, the company emphasised, rather than a direct response to the higher US import tariffs on vehicles and auto parts imposed by President Trump. Toyota spokesperson Nobu Sunaga stated, 'The latest price hike is part of our regular review of the prices,' reinforcing that tariffs were not the sole driver of the decision. Nonetheless, the tariff environment has posed significant pressures on automakers globally, and Toyota acknowledged that its US pricing strategy reflects a response to ongoing cost variations driven by market conditions. The average increases translate to roughly a 5–7 per cent jump in vehicle pricing, based on benchmark models such as the Camry and Corolla, according to industry analysts cited by Bloomberg. The Camry SEL, priced at around US $30,000, could see a rise of about US $1,500, while a higher-end Lexus RX could face an adjustment of around US $2,000. ADVERTISEMENT Tariffs are exerting a ripple effect across the automotive supply chain. The US government's 25 per cent tariff on imported vehicles and parts has intensified cost pressures, prompting not only Toyota but also other manufacturers—such as Mitsubishi and Honda—to consider similar price adjustments or cost‑containment measures. Ford has also announced price increases for North American‑produced models, citing uncertainty over tariff policies. Toyota's decision highlights the paradox at the heart of the tariffs debate: protectionist measures designed to encourage domestic production may instead shift the cost burden onto end consumers in the US market. Toyota has emphasised its commitment to American manufacturing, citing the economic contribution and employment generated by its US plants. The company operates several factories in states including Kentucky, Texas, and Alabama, producing high-volume models such as the RAV4 and Tundra. Analysts note the move is consistent with broader inflationary trends in the auto industry, where rising labour costs, supply‑chain disruptions and commodity price increases have required frequent price recalibrations. 'This is not price gouging,' one sector observer told Bloomberg, 'but a necessary step to safeguard margins amid escalating overheads.' Consumer responses are expected to vary by model and region. Entry‑level compact and mid‑size Toyota models—very popular among US families—are the most sensitive to small price increments, while luxury Lexus buyers may feel less immediate impact. However, consumer advocacy groups have warned that maintaining total vehicle affordability is critical, particularly as financing costs remain historically high. The US automotive landscape has already seen a rise in manufacturer price guidance and adjustments. Industry data suggest that in the first quarter of 2025, US consumers paid an average of US $2,500 more for new vehicles than a year earlier, reflecting a broader inflationary shift. Toyota's announcement coincides with this trend, signalling that pricing pressures are likely to persist amid ongoing tariff policies and global economic uncertainties. For dealers, this price increase will necessitate adjustments in inventory valuations and marketing strategies. Many dealerships rely on tight margin plays and promotional leasing rates, and the added costs may reduce flexibility in incentives or alter end‑of‑month sales targets. While Toyota maintains that the tariffs were not a definitive trigger, observers point out that cost pressures from global trade policies are converging with normal fiscal adjustments, amplifying the need for price revisions. As auto markets enter the second half of 2025, the industry will likely continue to test the elasticity of consumer demand amid elevated prices and shifting policy landscapes.
