The Public Investment Fund's 2025 results show revenue up 9% to $120 billion and net profit more than doubling to $17 billion, with assets under management above $900 billion against $530 billion in 2021, annualised total shareholder return of 5.8% since 2017, 80% of assets held domestically and 55% in alternatives. PIF put its contribution at 11% of Saudi non-oil GDP in 2025 and $342 billion cumulatively from 2021 to 2025, with $199 billion deployed domestically over that period and international investments up 12% in 2025.
Revenue grew 9% and profit more than doubled, and the gap is portfolio companies beginning to pay out, not the fund's businesses running twice as well. The maturation of the new strategy is built on, showing up before the strategy did.
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Foreign direct investment tops SR1.1 trillion
Saudi Arabia's foreign direct investment stock reached SR1,122.8 billion at the end of Q1 2026, up 12% year on year and representing about 32% of total foreign investment in the Kingdom, against total foreign investment of SR3,530.8 billion, up 18% year on year.
FDI growing 12% while total foreign investment grew 18% means portfolio and other investment are growing faster than direct investment, hot money is currently outpacing the patient kind.
Sixteen countries become twenty-four
The Riyadh-based Digital Cooperation Organization approved 8 countries as membership candidates — Albania, Azerbaijan, Kazakhstan, Kenya, Lebanon, Palestine, Syria and Zambia — with Tajikistan approved as an associate member, taking the organization from 16 members to 24 on accession and covering roughly 980 million people, about 12% of the global population. The DCO launched in 2020 with 5 founding countries and is working to a 2025–2028 agenda.
The expansion from 5 founding countries in 2020 to 24, now representing approximately 12% of the global population, demonstrates that standards are being set collectively. The rules on data and cross-border digital trade are determined by those who participate.
Ten billion and a December date
AWS is investing $10.3 billion in Saudi Arabia, including $5.3 billion (SAR 19.9 billion) in a cloud region with 3 independent availability zones launching in December 2026, and more than $5 billion in an AI zone with HUMAIN targeting 50 megawatts by 2028 and deploying up to 150,000 AI accelerators. AWS projects $191 billion of economic value from cloud services by 2033, will train 100,000 Saudi nationals including a free programme for 10,000 women, and is integrating curriculum at 11 Saudi universities.
This commitment applies to both general cloud services and AI. If you manage enterprise IT, plan your regular migration for the December launch instead of waiting for an AI project to justify the move.
