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الاقتصادية
MIS scales Hyuman deal to 8.8B
Al Muammar Information Systems Company (MIS) has announced an increase in the value of its project with HYOUMAIN to more than 8.8 billion riyals, following a significant expansion of the project scope. The expansion includes boosting the AI data center's capacity from 50 to 250 megawatts, along with the design and construction of additional data centers with a capacity of 200 megawatts, to be executed in phases. This expansion comes after the company demonstrated that the contract’s value post-expansion represents an increase of over 689% compared to its 2025 revenues, which amounted to approximately 1.3 billion riyals. This news prompted notable movement in MIS’s stock during yesterday’s session, where it experienced a substantial rise before the official announcement, increasing by 5.7% to reach its highest level since listing, though it later pared some gains. The implementation works for the expansion are expected to begin concurrently with the finalizing of the final contract within two weeks, without affecting the progress of the first phase of the project. The project aims to enable and develop artificial intelligence solutions locally and regionally, with a focus on large language models in Arabic, as well as the development of data centers and cloud infrastructure, reflecting Saudi Arabia’s ambition to lead globally in the field of artificial intelligence.
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