Saudi-listed stc’s subsidiary, Digital Centres for Data and Telecommunications Company (Centre3), has signed an agreement with Future Artificial Intelligence Company (HUMAIN) to establish a joint venture to develop and operate AI-focused data centres in the Kingdom.

The joint venture aims to develop advanced infrastructure with an operational capacity of up to 1 gigawatt (GW) of required load to operate data centres, starting with an initial capacity of up to 250 megawatts (MW), stc said in a statement on Thursday.

Financial details weren't disclosed.

HUMAIN, wholly owned by the Public Investment Fund, will own a 51 percent stake in the joint venture, while the stc subsidiary will hold the remaining 49 percent.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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