stc extends HUMAIN AI data center MoU by 6 months

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Telecom giant stc extended its memorandum of understanding (MoU) with HUMAIN for an additional six months, effective June 18, as both parties continue final negotiations and complete the necessary procedures to sign a joint venture agreement.

In a statement to Tadawul, the company said the extension follows the expiry of the existing MoU and ongoing discussions between the parties, citing the strategic importance and scale of the project, as well as the need to complete regulatory and operational requirements.

stc said the two sides have made significant progress in discussing and finalizing the commercial, operational, and regulatory aspects of the proposed joint venture over the past period.

The company added that there is currently no material financial impact, and any significant developments will be announced in due course.

According to Argaam data, stc signed an MoU with HUMAIN, a Public Investment Fund (PIF) company, on Dec. 18, 2025, through its subsidiary Center3, to establish a joint venture to develop and operate AI-focused data centers in Saudi Arabia.

The proposed venture aims to build infrastructure with a capacity of up to 1 gigawatt of power load, with an initial phase of 250 megawatts depending on customer commitments.

Under the planned structure, HUMAIN would hold a 51% stake, while stc would hold 49%.