Humain awards MIS a SAR 1.9 bn contract for an AI data center

Al Moammar Information Systems (MIS) will design and build an AI-focused data center for Humain under a contract valued at over 155% of its 2024 revenue, it said in a disclosure to Tadawul. The awarded contract is valued at about SAR 1.9 bn, based on our calculations.

MIS has a few data center projects under its belt: MIS is expanding Saudi Fransi Capital’s data center capacity by 64 MW at a cost of SAR 1.95-2.5 bn, and has signed a framework agreement to add up to 112 MW in capacity to Saudi Data Center Fund 1’s existing facilities.

STC absorbs UAE media arm, brings it home

STC is consolidating media operations, integrating Intigral — the media engine behind STC TV — into its core business and relocating its operations from the UAE to Riyadh, it said in a filing to the bourse yesterday.

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