---
title: "LEAP23 in Riyadh announces about $9bn of tech investments"
url: "https://cicadaconsultancy.online/en/news/leap23-opens"
language: "en"
event_date: "2023-02-06"
published: "2026-10-03"
last_verified: "2026-10-03"
category: "Events"
publisher: "Cicada (cicadaconsultancy.online)"
license: "CC BY 4.0"
---

# LEAP23 in Riyadh announces about $9bn of tech investments

- Event date: 6 February 2023 (2023-02-06)
- Topic: Events
- In this story: LEAP, Microsoft, Oracle, Huawei, Zoom, Aramco, Meta
- URL: https://cicadaconsultancy.online/en/news/leap23-opens

LEAP 2023 ran from 6 to 9 February 2023 in Riyadh and announced about $9 billion of investments; a later organizer recap puts the total at more than $9.5 billion. Highlights were Microsoft's $2.1 billion for a hyperscale cloud, Oracle's $1.5 billion for new cloud regions, Huawei's $400 million for cloud infrastructure and a cloud region from Zoom with Aramco. Meta launched its first Metaverse Academy in the region, and organizers reported more than 250,000 visitors.

## Key figures

- announced investments: $9 bn

## Sources

1. [LEAP 2023 in Riyadh sees US$9 billion worth of investments](https://mena.entrepreneur.com/technology/leap23-announces-us9-billion-investments-in-tech-sectors/444444) — Entrepreneur Middle East, 2023-02-07
2. [LEAP 2023 brings over US$9.5 billion worth of investments to Saudi Arabia's tech sector](https://www.leapforward.onegiantleap.com/leap-2023-brings-over-us9-5-billion-worth-of-investments-to-saudi-arabias-tech-sector/) — LEAP Forward (Tahaluf), 2023-06
3. [U.S. companies launch new investments at LEAP 2023](https://ussaudi.org/u-s-companies-launch-new-investments-at-leap-2023/) — US-Saudi Business Council, 2023-03-03

Archive report. Written in 2026 from contemporary sources and dated to the day the event happened.

---

Cicada · The signal in Saudi AI.
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