DataVolt Set to Groundbreak $5 Billion Net-Zero AI Data Center in Neom’s Oxagon

TABUK — DataVolt, a Saudi data center developer owned by Vision Invest, is set to break ground within the next two to three months on its 1.5-gigawatt (GW) net-zero artificial intelligence data center campus located in Oxagon, Neom’s industrial and logistics hub on the Red Sea.

The project, described as an "AI factory," represents a total initial commitment funded as part of a $5 billion investment phase from DataVolt. Operations for the initial phase are scheduled to go live by 2028.

The campus is engineered to meet the high-density power, advanced liquid cooling, and fiber connectivity requirements of generative AI workloads. Powered entirely by Neom’s dedicated renewable energy grid, the site leverages low-cost wind and solar power alongside local seawater cooling solutions to operate at net-zero emissions.

Under the bilateral agreement, Oxagon will lease the land and provide primary industrial infrastructure support. DataVolt expects to secure non-recourse project financing across all its domestic projects within six months.

"The development at Neom has reached the last mile for the first phase, and we are now in the last stages of discussions with multiple customers," Rajit Nanda, Chief Executive Officer of DataVolt, said in a statement. "So we expect to break ground in the next two to three months and get on with these AI factories."

Nanda emphasized that placing computing infrastructure directly adjacent to clean energy generation gives Saudi Arabia a distinct structural advantage in delivering the lowest cost of compute globally.

The start of physical construction marks a major shift for Neom, prioritizing commercial, industrial, and digital infrastructure assets across the gigaproject.