Telecom, Media, and Technology
Develop Saudi Arabia’s Innovation Capabilities by Localizing the Technology Sector and Developing the Telecom & Media Sector
Given the preeminent influence of the media and telecommunications sectors’ growth in the Quality of Life program, this initiative intends to support Saudi Arabia as a globally competitive hub of technology, media and telecom. To achieve such objectives, PIF will closely work with its portfolio companies to develop opportunities in various sectors by working with all relevant authorities.

Opportunities
- Companies worldwide are increasing spending on technology as digital transformation can increase companies’ efficiency and achieve competitive advantage
- National Transformation Program (NTP) in Vision 2030 aims to digitally enable all economic sectors, such as manufacturing, government, healthcare, banking financial services, and insurance (BFSI)
- Media and telecommunications are also growing rapidly and playing an essential part in the Technology, Media, and Telecom (TMT)
Portfolio companies in this sector
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Progress
Outcomes through supporting portfolio companies in achieving their business objectives by
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HUMAIN was launched in May 2025 as a global AI powerhouse to operate across the full artificial intelligence value chain. The company aims to accelerate economic diversification, create high-value jobs, and establish Saudi Arabia as a globally competitive hub for AI innovation.
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Elm completed the SAR 3.4 billion acquisition of Thiqah Business Services Company. The integration is set to enhance the ICT sector by expanding the digital services value chain and strengthening Saudi Arabia’s position in tech-enabled solutions.
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TAWAL and Golden Lattice Investment Company finalized a merger to create the largest telecommunications tower company in the region, managing around 30,000 tower sites across several countries. The merger aims to enhance network coverage, drive operational efficiency, and support Saudi Arabia's digital infrastructure goals.
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Saudi Information Technology Company (SITE) announced a new joint venture with U.S.-based Privafy Inc. under the commercial brand METRAS, focused on the localization of world-class, next-generation cybersecurity solutions, including the launch of an innovative Extended Detection and Response (XDR) offering. SITE and Fortanix launched a dedicated Saudi-based node SaaS data security solution serving the MENA region.
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HUMAIN and NVIDIA have announced a significant strategic partnership to build advanced AI infrastructure and capabilities in Saudi Arabia. The collaboration includes the development of AI factories to train and deploy sovereign AI models, accelerating innovation across a range of industries.
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Luma and HUMAIN have announced a major collaboration aimed at transforming the future of entertainment and content creation through advanced generative AI. The partnership combines HUMAIN’s robust AI infrastructure with Luma’s cutting-edge multimodal AI models.
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AMD and HUMAIN have formed a strategic partnership to develop global AI infrastructure. The collaboration involves a substantial investment, leveraging HUMAIN’s expertise in end-to-end data center solutions and AMD’s advanced AI computing hardware and open software ecosystem for AI workloads.
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10 December 2024 The PIF Effect: Pioneering investments send ripples of real impact through Saudi Arabia and the worldPIF News Network
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16 July 2024 PIF strengthens renewable energy localization in Saudi Arabia with three new joint venturesPress Releases
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27 May 2024 PIF launches Neo Space Group (NSG) to boost Saudi Arabia’s satellite and space industriesPress Releases