MIS extends MoU to explore feasibility of AI cloud services

Logo of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co. (MIS) extended a memorandum of understanding (MoU) to study the feasibility of providing artificial intelligence (AI) cloud services in Saudi Arabia for 60 days, according to a Tadawul statement.

The extension aims to complete the research and development for potential strategic partnerships and implementation strategies.

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MIS indicated progress in the feasibility study, particularly market analysis, business model recommendations, and preliminary financial evaluation, reflecting the joint commitment of the parties to achieving the objective of the MoU.

Any significant developments will be announced in due course, the statement added.

Last July, MIS signed a MoU with Saudi Fransi Capital to study the feasibility of providing AI cloud services in Saudi Arabia, particularly high-performance computing infrastructure that leverages the latest graphics processing units, according to Argaam data.