Saudi Arabia sees above $9 bln investments in technology sector during LEAP 23 conference

مؤتمر ليب 23: استثمارات تتجاوز 9 مليارات دولار في قطاع التقنية بالسعودية

Logo of LEAP 2023 Tech Conference

The LEAP 23 international technological conference kicked off today, with the participation of a number of experts, talented ones, innovators, and world-leading companies in the fields of technology and innovation. The event is set to run for four days.


Saudi Arabia has become a hub for technology, innovation and technological investment, as investments in the conference exceeded $9 billion from various technology companies, the conference said, on Twitter.


Microsoft has invested $2.1 billion to invest in a global ultra-wide cloud in the Kingdom, while Oracle invested $1.5 billion to expand its business by establishing a number of new cloud regions in the Kingdom.


Furthermore, Huawei also announced investing $400 million to establish a cloud region for its services in the Kingdom, and Zoom invested $434 million to establish a cloud region for its services in the Kingdom with Aramco. Meta announced the opening of the first Metaverse academy in the Middle East and North Africa.


These investments include $4.5 billion worth of global and local investments in various fields.