Nebius takes up to 50MW as anchor customer at Neom's Oxagon
Humain and DataVolt signed the agreement on October 21, with capacity due online in phases from the fourth quarter of 2027.
At a glance
Nebius has agreed to initially take up to 50MW at Oxagon, the data center campus under construction in Saudi Arabia's Neom, as an anchor customer.
The Oxagon agreement follows leases Nebius signed this month with Volt in the Netherlands and AIB Data Centers in the US.
Half of the 100MW under construction at Oxagon now has a named anchor customer; the other 50MW does not, and the remaining 260MW of phase one has yet to be let.
Nebius has agreed to initially take up to 50MW at Oxagon, the data center campus under construction in Saudi Arabia's Neom, as an anchor customer. Saudi AI company Humain and developer-operator DataVolt signed the agreement with Nebius on October 21, Data Center Dynamics reported.
The 50MW is half of the 100MW currently under construction at Oxagon, with capacity due online in phases from the fourth quarter of 2027. Phase one of the campus targets 360MW and the completed build-out targets 1.5GW. Nebius will deploy Nvidia-powered computing infrastructure there to serve its own demand.
Six weeks from groundbreaking to commitment
Construction at Oxagon began in September. DataVolt chief executive Rajit Nanda presented the Nebius agreement as evidence of how fast the developer can convert a site into contracted load. “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,” he said.
Oxagon is a floating hexagonal industrial district in the southwest of Neom, the megaproject in Tabuk Province launched by Crown Prince Mohammed bin Salman in 2017. Oxagon leases the land to DataVolt and provides infrastructure support, and the site will reportedly draw power from Neom's wind and solar assets.
The Oxagon agreement follows leases Nebius signed this month with Volt in the Netherlands and AIB Data Centers in the US. The AIB deal, announced October 1, was also 50MW and carried a 12-year term, with tenant prepayments alongside project debt and equity funding the build. This publication reported that Nebius's first 50MW in Saudi Arabia lands in the fourth quarter of 2027, while the AWS Saudi AI Zone's first 50MW was given a 2028 date.
Half of the 100MW under construction at Oxagon now has a named anchor customer; the other 50MW does not, and the remaining 260MW of phase one has yet to be let. The report did not specify the term, price or prepayment structure at Oxagon.
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