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Element List	Explanation
Introduction	Saudi Telecom Company (stc) announces the signing of a memorandum of understanding (MoU) with Future Artificial Intelligence Company (HUMAIN) to establish a joint venture (JV) through its subsidiary, Digital Centers for Data and Telecommunications Company (Center3), to develop and operate AI-focused data centers in the Kingdom of Saudi Arabia.
Memorandum Signing Date	2025-12-18 Corresponding to 1447-06-27
Counterparty	Future Artificial Intelligence Company (HUMAIN)
Memorandum Subject	The JV is intended to develop advanced infrastructure with a high operational capacity of up to 1GW of required load to operate data centers, starting with an initial capacity of up to 250 MW, subject to contractual commitments with customers. The structure of the JV includes HUMAIN holding 51% stake and stc holding 49% stake of the JV. This Joint Venture with HUMAIN reflects stc’s commitment to enabling the Kingdom’s digital future. The JV brings together center3’s scale, data-center leadership, and extensive regional connectivity with HUMAIN’s strategic mandate to champion end-to-end capabilities - laying the groundwork for high-capacity, low-latency infrastructure critical to the AI era. The initiative supports the Kingdom’s Vision 2030 by localizing advanced digital infrastructure and enabling the development of AI capabilities, and strengthening Saudi Arabia’s position as a regional digital hub.
Memorandum Duration	6 months
Related Parties	HUMAIN is considered a related party, as it is one of the Public Investment Fund (PIF) subsidiaries, which also holds an ownership stake in stc.
Financial Impact	The financial impact is expected to be positive, however, it cannot be determined at this stage, as it depends on the project plans and investment requirements.
Additional Information	Any material development will be announced in due course.

Saudi Telecom Company (stc) announces the signing of a memorandum of understanding (MoU) with Future Artificial Intelligence Company (HUMAIN) to establish a joint venture through its subsidiary, Digital Centers for Data and Telecommunications Company (Center3)