Nebius Signs On as Anchor Tenant for 50MW at Neom's Oxagon Data Center in Saudi Arabia

Nebius has agreed to become the anchor customer at the Oxagon data center campus under development in Saudi Arabia, signing an agreement with Saudi AI company Humain and data center developer-operator DataVolt on October 21. The deal marks a significant step in the Kingdom's ambitions to establish itself as a global hub for AI compute infrastructure, leveraging its energy advantages to attract hyperscale and neocloud tenants.

Under the agreement, Nebius will initially take up to 50MW of capacity — half of the 100MW currently under construction at the site — with capacity set to come online in phases beginning in the fourth quarter of 2027. The Oxagon campus, whose construction began in September, is targeting 360MW in its first phase and a total capacity of 1.5GW upon full buildout. Nebius plans to deploy Nvidia-powered computing infrastructure at the facility to support its growing demand for AI workloads.

Oxagon is a floating hexagonal industrial district located in the southwest of Neom, the megaproject city launched by Crown Prince Mohammed bin Salman in 2017 in Tabuk Province. Oxagon will lease land to DataVolt for the development of the facility and provide infrastructure support, with the site reportedly powered by Neom's wind and solar assets.

Rajit Nanda, CEO of DataVolt, framed the deal as evidence of the company's execution speed and Saudi Arabia's broader competitive positioning in AI infrastructure. "Speed to market and infrastructure cost competitiveness will define the winners in the global AI compute race," he said. "Reaching this advanced stage of commercial engagement with Nebius within six weeks of commencing construction is a powerful demonstration of our ability to execute at pace and convert development into commercial commitments." Nanda added that by combining Saudi Arabia's energy advantages with disciplined execution, DataVolt is helping create a platform for the Kingdom to compete globally in AI compute — "not just as an energy powerhouse, but as an exporter of digital capacity."

The agreement underscores the growing trend of neocloud providers securing large-scale capacity in the Middle East to diversify their global footprints and tap into low-cost, renewable-rich energy markets. Nebius already operates a data center in Mäntsälä, Finland, and is leasing or set to lease capacity across the UK, France, Israel, Iceland, Finland, and the US, including sites in New Jersey and Missouri. The company has also signed leases this month with Volt in the Netherlands and AIB Data Centers in the US, and is planning self-build projects outside Kansas City in Independence, Missouri, a gigawatt-scale development in Pennsylvania, and a 240MW data center in Béthune, northern France. For Saudi Arabia, the Oxagon anchor tenancy signals rising credibility in the global AI infrastructure supply chain as the Kingdom seeks to convert its energy endowment into digital capacity exports.