HUMAIN and MIS Sign SAR 8.77 Billion AI Data Center Agreement

Future of Artificial Intelligence Company (HUMAIN) has formally signed an agreement with Al Moammar Information Systems Company (MIS) for the design and construction of AI-focused data centers in Saudi Arabia. The total agreement value exceeds 689% of MIS’s FY2025 revenue, including VAT, representing an indicative value of more than SAR 8.77 billion. However, MIS has not disclosed a specific fixed contract value in Saudi Riyals. The agreement, signed on September 19, 2026, expands the planned capacity of the AI-focused data center project from the previously announced 50 MW to 250 MW, representing an additional 200 MW of planned capacity. Under the agreement, MIS will undertake the engineering, procurement, and construction (EPC) works for AI-focused data center facilities for HUMAIN. The expanded project will increase the overall planned capacity from 50 MW to 250 MW, with the additional capacity expected to be delivered through work orders issued by HUMAIN in accordance with the terms and conditions of the agreement. The facilities are intended to provide large-scale digital infrastructure dedicated to artificial intelligence technologies, supporting the growing demand for advanced computing and AI capabilities in Saudi Arabia. MIS stated that the EPC works will be executed through individual work orders issued by HUMAIN. The work orders are expected to be received sequentially, with MIS to announce the value, execution period, and expected financial impact of each material work order upon receipt. The agreement itself does not specify a fixed contract duration. The financial impact on MIS will be reflected as the relevant work orders are received and executed. MIS also confirmed that the new agreement supersedes the contract previously announced on Tadawul on March 5, 2026, relating to the AI-focused data center project. According to the company, the new agreement does not affect the value, progress, or financial impact previously disclosed in connection with the earlier contract. The financial impact from the previously announced works had been expected to commence from the second quarter of FY2026. The latest agreement formalizes the expanded scope and increases the project’s planned capacity fivefold, from 50 MW to 250 MW. The agreement further expands the development of large-scale AI and data center infrastructure in Saudi Arabia, with MIS responsible for delivering the engineering and construction works for the increased 250 MW planned capacity.