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Saudi Brothers Gain $1.4B from AI Boom
Shared on Facebook, X, LinkedIn, WhatsApp, Telegram, Viber Screenshot: The Saudi brothers Ibrahim and Khalid Al-Ammer have accumulated a fortune estimated at around $1.4 billion, thanks to the rising value of "Al-Ammer for Information Systems" (MIS), in which they own more than 50% of the shares. The company's market value has increased to approximately 9.75 billion Saudi riyals (about $2.6 billion), after its stock price surged by 87% since the beginning of the year. Meanwhile, the value of a contract for the expansion project of a data center for "Hyumain," supported by the Saudi Investment Fund, exceeded 8.76 billion riyals (around $2.34 billion). Founded in 1979, the company has expanded into the data center and digital infrastructure sectors and is considered one of the leading investors in the Gulf region, which is experiencing a boom in artificial intelligence and technology investments.
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