MIS starts JV with BSF Capital to provide AI cloud services

Logo of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co. (MIS) began a strategic joint venture (JV) with Saudi Fransi Capital to launch a Saudi service provider for artificial intelligence computing infrastructure.

In a statement to Tadawul, the company pointed out that the new venture aims to offer GPU-based computing solutions to support next-generation AI applications, machine learning, and high-performance computing (HPC) in the Kingdom. It will also provide on-demand cloud computing services via GPUs to meet the needs of institutions, research entities, and government bodies.

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Saudi Fransi Capital will be responsible for structuring the financing and developing the growth strategy, while MIS will oversee the implementation of AI cloud infrastructure and deliver technical services, the statement added.

The company further noted that it will announce any significant developments in due course.

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 GPUs, according to Argaam data.