HUMAIN, the Public Investment Fund company that builds AI services, and the data centre developer DataVolt announced a preliminary framework agreement with the AI cloud company Nebius on 21 October 2026. Under the proposed framework, Nebius would become an anchor customer of the AI “giga campus” planned in Oxagon at NEOM.
NEOM’s announcement said the capacity Nebius would take is up to 50 megawatts, half of the initial 100 megawatts currently under construction, and that it is expected to come into operation in phases from the fourth quarter of 2027. Megawatts measure how much electricity a site can draw, which is the usual way to describe the size of a data centre. The first phase of the campus is planned at 360 megawatts. The agreement was signed on the sidelines of NVIDIA’s GTC conference in Berlin, and no contract value was published.
HUMAIN’s chief executive, Tareq Amin, said having Nebius as the company’s first customer was “a significant milestone”. NEOM’s chief executive, Aiman Al-Mudaifer, said the agreement reflects growing global demand for AI-ready infrastructure.
Why it matters: large data centres need paying customers as well as buildings and power. Nebius would be the first named customer for the planned Oxagon campus.
What to watch: whether the framework becomes a final contract, and whether the first capacity is ready on the stated timeline.