Saudi Arabia is launching a company to invest in artificial intelligence models and infrastructure, the Financial Times reported today.

The venture is set to be known as Humain. It will be chaired by Crown Prince Mohammed bin Salman and owned by Public Investment Fund, Saudi Arabia’s $940 billion sovereign wealth fund. According to the Financial Times, Humain will be “prime vehicle to drive the kingdom’s AI strategy.”

Humain is expected to be a “multibillion-dollar” venture. Specific numbers were not disclosed, but the Financial Times report did detail that the company plans not only to invest in AI assets but also to operate them. Those assets will reportedly include Arabic large language models and data centers.

The launch of Humain comes a day before U.S. President Donald Trump’s visit to the Gulf. His first stop will be Saudi Arabia, where Elon Musk, OpenAI Chief Executive Officer Sam Altman and other executives are expected to attend a U.S.-Saudi investment forum. Last week, OpenAI announced an initiative through which it plans to help countries build AI data centers and deploy localized versions of its LLMs.

The ChatGPT developer’s initiative also has a number of other elements. OpenAI is offering to help participating countries set up AI startup funds to support their local AI ecosystems. Additionally, participants will invest in Project Stargate, OpenAI’s $500 billion push to build a network of stateside AI data centers.

Humain’s launch marks the latest in a series of AI initiatives announced by Saudi Arabia over the past year. 

In February, chip startup Groq Inc. secured a $1.5 billion commitment from Saudi Arabia to expand the delivery of its AI chips to the country. Grok has developed a processor that it claims can run LLMs with 10 times the power efficiency of graphics cards. According to Reuters, the company will use the funds to expand an inference-optimized data center that it has built in the Saudi city of Dammam.

Earlier, fellow chipmaker Cerebras Systems Inc. signed a memorandum of understanding with Aramco, Saudi Arabia’s state-owned oil company. Aramco will use Cerebras’ CS-3 AI appliances to develop LLMs. The appliances are powered by the company’s wafer-scale WSE-3 chip, which features 4 trillion transistors organized into nearly 1 million cores.

OpenAI is reportedly developing its own custom AI processor to reduce its reliance on Nvidia Corp. In February, Reuters reported that the ChatGPT developer was planning to partner with Taiwan Semiconductor Co. Ltd. to mass produce the chip. If it’s competitive with Nvidia silicon, OpenAI’s processor could potentially become part of the initiative through which it plans to help countries build AI data centers. 

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