In January, MIS invested $5 million in OpenAI as part of a $10.7 million allocation approved by the Tadawul-listed company to build a portfolio focused on global AI investments.

Earlier this month, the company signed a Memorandum of Understanding with Saudi Fransi Capital to explore launching an AI-powered cloud services business in Saudi Arabia. The initiative will focus on GPU-based computing solutions to support advanced AI applications, machine learning, and high-performance computing in the Kingdom.

In February, MIS signed a $60.75 million agreement with the Saudi Data and AI Authority to expand the Naqaa Data Center. The project aims to meet the growing demand for hosting services and enhance the center’s capacity in digital technologies.

In January, MIS also secured an $18.68 million contract from Saudi Arabia’s Ministry of Health to operate and maintain the digital infrastructure of 38 hospitals across the southern and western regions. The contract covers the maintenance of computers, printers, scanners, operating software, servers, network devices, wireless networks, and data centers.

In November, MIS reported a 356% year-on-year increase in net profit for the first nine months of 2024, reaching an estimated $32.49 million.