LEAP 2026 Attracts $857 Million in New Technology Investments on Third Day
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RIYADH, September 3, 2026 (Saudi Arabia Breaking News) — LEAP 2026 generated $857 million in new technology investments and funding announcements on its third day, supporting major expansions in cloud computing, data centers, venture capital and advanced technology manufacturing in Saudi Arabia.
Snowflake announced a $300 million investment to expand its operations in the Kingdom through 2030. The plan includes opening a regional headquarters, launching two additional cloud regions during the second half of 2026 and training 25,000 people.
Venture capital accounted for nearly $293 million across 11 announcements. These included nine funding rounds and investments valued at $126.15 million, alongside a new fund and the expansion of an existing fund with a combined value of $166.7 million.
The funding rounds covered companies working in artificial intelligence, fintech, travel, gaming, human resources and digital automotive services. The companies included COFE Tech, FlyAkeed, Nayla Finance, Sayarah, RABEH, Hazen.ai, ZenHR, Abwab.ai and TAKA House.
Ula Capital announced a $100 million fund in partnership with South Korea’s FuturePlay to connect deep-technology investment opportunities between Saudi Arabia and South Korea.
Impact46 and HALA expanded their fund for small and medium-sized enterprises from $26.7 million to $66.7 million, an increase of 150% in less than two years.
Alfanar announced a separate $150 million investment to manufacture data center components in Saudi Arabia, supporting local supply chains and increasing domestic content in advanced technology industries.
Global CTS Group and Saudi Arabia’s Desert Technologies also formed a partnership to localize the design and manufacturing of key data center components. The partnership includes plans for factories producing integrated power units for local and export markets.
LogRhythm Middle East announced the establishment of a cybersecurity center of excellence in the Kingdom. The center aims to train and empower 50,000 Saudi citizens while supporting research, innovation and the creation of advanced security solutions.
HUMAIN presented two enterprise artificial intelligence solutions: HUMAIN Enterprise Chat and HUMAIN Marketplace. The secure workplace assistant has attracted more than 30 clients within weeks, while the marketplace connects organizations with AI models, agents, applications and services from multiple providers.
IoT Squared, part of stc Group, also introduced Nucleus Twin, a platform combining digital-twin technology, artificial intelligence, the Internet of Things and geospatial data to help organizations monitor operations and simulate the effects of decisions before implementation.
The announcements highlight Saudi Arabia’s expanding technology ecosystem, combining startup financing with cloud infrastructure, cybersecurity, artificial intelligence and the domestic manufacturing of data center equipment.
