The Emirati “treasury” specializing in data centers is planning to expand in Saudi Arabia

The Emirati “treasury” specializes in developing databases is planning a large expansion in Saudi Arabia, with the growing mutation of artificial intelligence in the country, according to Bloomberg. For the CEO of the company, Hassan Al -Naqbi.

“Treasury” seeks to acquire a market share in Saudi Arabia of no less than 25%, according to the Naqbi, who explained that the company has identified two sites for data centers in Saudi Arabia.

“Treasury” has 71% of the current database capacity in the Emirates, according to its CEO; She looks forward to expanding outside the country after obtaining funding from the Global Technology Investment Company “Silver Lake” and the Abu Dhabi Fund.

Saudi Arabia requires storing personal and financial data in local data centers, which attracted international companies to invest in data storage facilities in Saudi Arabia.

Amazon pledged last year to spend $ 10 billion on data centers in Saudi Arabia. Google and Oracle also announced plans to expand in the country last year.

Saudi Arabia currently acquires nearly half of the database capacity in the region; It works to build more than 2 GB of the computer capacity of the computer capacity, according to Abdullah Al -Sawah, Saudi Minister of Communications and Information Technology in a lecture at Stanford University earlier this year.

The “treasury” has dozens of databases under construction worldwide, including sites in Türkiye and Kenya, with additional plans for Europe, according to the captain.