The two countries are negotiating the project that is backed by the Saudi Crown Prince, Mohammed bin Salman Al Saud, to bring more expertise and technology to the Kingdom, the report said.
The project that is expected to be listed in the Saudi Stock Exchange Market is part of the 2030 economic vision of Saudi Arabia. The Saudi-U.S. deal might be announced officially during the Saudi crown prince's visit to the U.S. scheduled for this year.
Saudi Arabia is working to become an internet data center in the Middle East, which would improve the quality and speed of the internet services in the region.
The Saudi crown prince visited the Silicon Valley in the mid of 2016 as part of his official visit to Washington. Saudi Arabia has taken major steps in carrying out massive economic reforms to get ready for the post-oil era.
