Snowflake Expects to Invest $300 Million in Saudi Arabia Through 2030
Key Facts
Snowflake said on October 27, 2026, that it expects to invest $300 million, equivalent to about 1.125 billion riyals, in its Saudi operations through 2030. The company said the amount will support expansion across its regional headquarters and hiring, AI skills development, cloud infrastructure, its partner network and local operations. The plan therefore combines building an operational presence in the Kingdom with expanding resources tied to cloud data services. Michel Nader, Snowflake's regional vice president for the Middle East, Turkey and Africa, described the investment as reflecting "Snowflake's confidence in Saudi Arabia and its digital future." The announced timeframe runs through 2030, while the stated investment remains a company projection.
On skills development, Snowflake is working with Saudi Arabia's Ministry of Communications and Information Technology to deliver the "One Million Minds" program, which is dedicated to developing data and AI skills. The program aims to empower up to 25,000 learners, according to the company's statement. Training combines virtual and in-person activities on the Snowflake platform, the same statement said. It also includes certifications, hands-on projects, and mentoring and networking opportunities through the Saudi Data and AI Community. This places training among the components of the company's local expansion, alongside hiring and technical infrastructure, rather than limiting the announcement to spending on cloud services.
On infrastructure, the company said it plans to launch two additional cloud regions in Saudi Arabia in the second half of 2026. The two regions will join its existing Google Cloud region in Dammam, according to Snowflake's statement. Cloud regions allow organizations to choose the geographic location where their data is stored, and Snowflake hosts each account in one region, according to company documentation. The announcement links this expansion to offering multi-cloud options and supporting data residency and sovereignty requirements. It comes as local data center infrastructure grows: operational capacity rose from 68 megawatts in 2021 to more than 440 megawatts in 2025, according to the Saudi Press Agency.
The announcement comes as Snowflake expands its local footprint. The company said its Middle East, Turkey and Africa regional headquarters was established in Saudi Arabia in 2024. It added that the headquarters will continue to grow its local team, partner network and operations, areas that also fall among the planned uses of the expected investment. Its customer list in the Kingdom includes Red Sea Global, O3 Sigma, Al Zamil Group, Almarai, Foodics, Rewaa and Jeeny, according to the company. At the market level, Snowflake said AI use among Saudi companies rose 20% year over year in 2025, attributing the figure to statistics from the General Authority for Statistics. The Communications, Space and Technology Commission reported that the rate of AI tool use in the Kingdom reached 45.2% in its Saudi Internet Report 2025, more than doubling from the previous year.
The training plans align with the goals of the National Strategy for Data and AI by 2030, which include attracting about 75 billion riyals in sector investment and qualifying more than 20,000 specialists and experts, according to the Saudi Data and AI Authority. In its financial results, Snowflake reported revenue of $1.55 billion in the second quarter of fiscal 2027, up 35% year over year, while product revenue reached $1.49 billion, up 37% year over year. The company's shares closed at $334.95 on October 26, 2026, after closing at $319.61 on October 20, $322.73 on October 21, $313.96 on October 22 and $325.43 on October 23. These consecutive closes provide context for the share price ahead of the investment announcement, without by themselves establishing its effect on the stock. The next step listed in the plan is launching the two additional cloud regions in the second half of 2026, while the expected investment extends through 2030.