The Emirati "Treasury" seeks to control a quarter of the market of Saudi data centers

‘Treasury’, which specializes in the development of databases in the Emirates, intends to expand strongly in Saudi Arabia, amid oil emergency competition to improve the revival of artificial intelligence. CEO Hassan Al -naqbi, CEO of the company, said during an interview at the company’s headquarters in Dubai: ‘Treasury’ has identified two areas for the establishment of data centers in the kingdom, where they compete with many specialized local enterprises and telecommunications, according to all -to -the -business, of design, implementation and operation. “The American Cloud Computing Giants has increasingly looked at the Arab Gulf to expand, and utilizes the cheap and abundant energy and real estate available in the region. It comes, while the UAE and Saudi Arabia from the structure of artificial intelligence are an essential pillar of their economy -diversification strategies, which led to the launch of a costly Servers and advanced chips. The country is expanding after it was recently gained funding from “Silver Lake” and the MGX fund, based in Abu Dhabi. Al -naqbi refused to comment on the treasury evaluation. He said his business employs about 250 people and that he has a continuous increase in revenue. “In some years we have grown ten times,” he said. Recently, Saudi Arabia imposed the need for storing personal and financial data in local data centers, which asked international companies to create facilities in the country to avoid the loss of profitable contracts. Amazon promised $ 10 billion to data centers in the kingdom. Google and Oracle have also announced plans over the past year to expand their work in Saudi Arabia. However, Microsoft, one of the largest businesses spent on data centers, has recently reduced some of its projects around the world, according to a report that Bloomberg reported earlier this month. In March, research and markets expected new investments to flow to data centers to the Middle East and North Africa by $ 12 billion. Saudi Arabia currently represents about half of the capacity of data centers in the region, according to the company. A large computer structure in Saudi Arabia, Abdullah Al -sawah, the Saudi communications and information technology minister, said earlier this year at a lecture at Stanford University that the Kingdom builds data or technological infrastructure centers with large computer capacity, about 2 GB. He added that these operations cost between $ 8 and 12 million per megawatt “or up to $ 12 billion per gago.” The costs rise to 20 or 30 million according to the government that handles it according to the garden during the lecture. Saudi Arabia is considered one of the targeted markets in the expansion plan for ‘Treasury’. Al -naqbi said the ‘Treasury’ builds 12 databases built worldwide, including sites in Türkiye and Kenya, with additional plans for Europe. Generally, the company said it offers 263 megawatts computer power with another 175 megawatt under construction. Last year, after Microsoft’s $ 1.5 billion investment in IT, G42 promised to leave investments in Chinese technological enterprises and remove manufactured equipment in China. Al -naqbi said components of the Chinese company “Huawei” are excluded from the Treasury data centers. The UAE is one of the list of countries that achieve restrictions in achieving advanced artificial intelligence chips made in the United States. However, the CEO of the G42 group and an Emirati official said earlier this month that they were optimistic about the possibility that the current situation would change in the future.