Saudi Arabia will use its $2/boe energy to power large-scale AI data centers

Saudi Arabia is moving fast to turn its cheap energy advantage into control over the AI data center industry.

Aramco CEO Amin Nasser said the kingdom will use its low-cost gas and renewables to power the massive servers needed to run artificial intelligence models.

“If you want gas, you will find the lowest cost gas,” Nasser told CNBC. “If you want renewable, you will find the lowest cost renewable.” He also made it clear that Saudi Arabia has enough land and energy to build whatever scale of infrastructure is needed.

Nasser spoke in an interview aired Tuesday, saying AI data centers will use almost four times more power than all electric cars globally by 2030. They will run mostly on gas, with some support from renewables.

That’s where Saudi Arabia wants to dominate. They already have the resources. Now, they’re putting in the money to make it happen.

Saudi backs Humain and boosts gas by 60%

Aramco revealed in October it will take a large minority stake in Humain, a new Saudi-based AI firm. The company was launched in May. The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, holds the majority stake.

Nasser said Humain will be Saudi Arabia’s national AI champion. Its goal? Compete with China and the U.S.. That’s what Tareq Amin, CEO of Humain, told CNBC. He said the kingdom is working to become the third-largest AI power in the world.

A big part of Aramco’s strategy is scaling up natural gas. They plan to increase production by over 60% by 2030 to meet the energy demand for AI systems.

Nasser said Aramco is ready to spend between $52 billion and $58 billion this year, and a big chunk of that is going into gas infrastructure and Humain.

Even though this push is about data and AI, Aramco hasn’t lost focus on oil. Nasser said oil and gas demand will keep growing for a long time.

Developing countries in Asia will drive most of it. In fact, global oil demand is expected to rise by 1.1 to 1.3 million barrels per day this year, and about the same again in 2026. “There is huge potential for growth in emerging economies,” he added.

So while others are chasing headlines, Saudi Arabia is quietly laying the ground for something massive; data centers powered by $2/boe gas, national AI programs bankrolled by oil money, and a strategy that places it right next to Washington and Beijing in the AI race.

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