Correction (July 14, 2025): Following publication of this briefing note on June 10, 2025, The Logic received a credible complaint and undertook further reporting. As detailed in our subsequent coverage linked here, the Saudi Investment Bank states it has no plans to provide financing to Canadian governments or businesses, and further, that it has no relationship with Darryl Williams. The bank also states that Williams does not speak on its behalf, despite inaccurate filings in the federal lobbyist registry. Independent experts have raised concerns that the activities described may be an attempt to mislead. The Logic regrets any confusion, or any inconvenience suffered by the Saudi Investment Bank. We encourage readers to review the follow-up story for additional context.

The Riyadh-based bank is keen to finance large-scale AI data centres in Alberta as part of efforts to diversify investments amid turmoil in the U.S., says its new B.C.-based lobbyist. (The Logic)

Talking point: “They’re interested in Canada principally because they’re not interested in the [United] States,” Darryl Williams said Tuesday. He recently registered to lobby Ottawa for the Saudi Investment Bank, whose vice-chair Mohammed Saleh Al-Khalil is an old friend. Williams  said the bank is looking to finance projects typically ranging from $5 million to $1 billion—although the lobbyist entry puts the upper limit at $100 billion. The kingdom’s state-owned AI company, Humain, is set to launch a US$10-billion venture capital fund as part of its AI ambitions. The Liberal government wants to fast-track some big projects—potentially including pipelines, which Williams said is another area of interest. The bank is ready to move quickly. “It’s a yes or a no, but you’ll know in a week,” he said. Prime Minister Mark Carney has reportedly invited Crown Prince Mohammed bin Salman to attend next week’s G7 summit in Kananaskis, Alta.