Al Moammar Information Systems Co. reached a record high after expanding its data-center project with Humain, an artificial-intelligence company backed by Saudi Arabia’s Public Investment Fund. The contract is now valued at more than 8.76 billion Saudi riyals ($2.34 billion), while MIS’s market capitalization reached 9.75 billion riyals after an 87% stock surge this year. Brothers Ibrahim Al Moammar and Khalid Al Moammar, who collectively control more than 50% of MIS, have seen their combined fortune rise to roughly $1.4 billion, according to the Bloomberg Billionaires Index. The project’s planned capacity has increased to 250 megawatts from 50 megawatts, making the contract nearly as large as MIS itself and about seven times its 2025 revenue. The company has also secured additional colocation services agreements with Humain and collaborations involving Aramco and STC. Founded in 1979 and listed on the Tadawul exchange in 2019 as Saudi Arabia’s first public IT company, MIS operates across data centers, networking, security, and operations and maintenance. Its growth reflects Vision 2030 and a wider Gulf push to build AI infrastructure, though the brothers’ concentrated ownership and MIS’s sharp valuation increase leave limited margin for execution errors.