AI Summary
Abdullah AlGhamdi, CEO of Al Moammar Information Systems Co. (MIS)
Abdullah AlGhamdi, CEO of Al Moammar Information Systems Co. (MIS), expects the financial impact of the project to build a dedicated data center for artificial intelligence (AI) technologies in partnership with HUMAIN to begin to materialize on revenues in 2026.
In a statement to Argaam, AlGhamdi noted that the accurate impact will be determined after the contract is signed, explaining that the anticipated period for completing the project and all related requirements may extend to 12 months or more from the contract signing.
The project coincides with the previously announced ongoing expansion of the “SAHAYEB” data center, owned by BSF Capital. The two projects’ relevant impacts are to be distributed over 2026 and 2027, he said.
AlGhamdi emphasized that there will be full clarity and disclosure regarding the design-and-build project of the dedicated AI data center once the contract is signed, in line with regulatory requirements.
HUMAIN project does not require injecting more investments from the company and will be financed through short-term bank facilities, he clarified.
AlGhamdi concluded that MIS’s business growth will continue at an accelerating pace, supported by ongoing development and expansion in technology-related fields.
According to data available with Argaam, MIS secured a project on Dec. 23 to design and build a private data center dedicated to AI technologies with HUMAIN. The project’s value exceeds 155% of MIS’ total revenues for 2024, including value-added tax (VAT).
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