Riyadh – Sharikat Mubasher: Saudi Arabia’s Al Moammar Information Systems Company (MIS) announced it has signed a contract with PIF’s HUMAIN to design and build a dedicated artificial intelligence data center, in a deal valued at around SAR 1.88 billion ($501 million), including VAT.
According to a statement filed on the Saudi Exchange (Tadawul) on Thursday, the contract value represents more than 155% of MIS’s total revenues for 2024. The project was originally awarded on December 23, 2025, while the contract was officially signed on March 4, 2026.
The agreement covers the design and construction of a data center tailored specifically for AI technologies. The facility is expected to support advanced computing requirements associated with artificial intelligence applications and digital infrastructure.
MIS stated that the contract will run for a period of 12 months and is expected to have a positive financial impact on the company’s results starting from the second quarter of the 2026 fiscal year.
The project highlights the growing investment in AI infrastructure in Saudi Arabia as organizations scale up their capabilities to support data-intensive tech