Gulf AI dealbook: Oman campuses, Alpha Dhabi funding, and Humain capacity

Oman has two new AI campuses on the drawing board. Hycap-backed UK green-energy developer Yamna has signed an MoU to advance a Salalah data center whose first phase is expected to cost more than GBP 1 bn, the UK government says. Yamna only started its data center business in April, but already has a separate green-ammonia project in Oman with two established players, EDF and Japan’s J-Power.

The bigger bet is a USD 3 bn campus that could be home to as much as 400 MW of compute down the road, led by Mubbadrah Investment, with Sustopia Capital, Vela Tech, and O2 Global Energy, TradeArabia reports. US AI infrastructure firm Crusoe — which counts Mubadala as an investor and which does a lot of business with OpenAI — has expressed interest in buying capacity, but the consortium hasn’t yet announced a signed offtake agreement.

MEANWHILE- Alpha Dhabi has agreed to commit USD 1 bn to Alpha Wave III, a global fund targeting AI and high-growth technology businesses, the Abu Dhabi investment group said yesterday. The commitment, which Alpha Dhabi said was still subject to unspecified “approvals,” will be funded with distributions from its earlier Alpha Wave investment and existing resources.

AND- Saudi Arabia’s Humain has a potential buyer for half of Oxagon’s first 100 MW worth of compute. Nasdaq-listed Nebius signed a preliminary agreement to take up to 50 MW from the Humain-DataVolt campus, with capacity expected to come online in phases starting 4Q 2027, our Saudi desk reported.