Saudi Brothers Build $1.4 Billion Fortune as AI Infrastructure Boom Accelerates

Riyadh: Saudi Arabia’s rapidly expanding artificial intelligence infrastructure market is creating significant new opportunities for technology investors, with brothers Ibrahim Al Moammar and Khalid Al Moammar emerging among its notable beneficiaries. Their combined fortune is estimated at around $1.4 billion, driven by the strong performance of Al Moammar Information Systems and its growing presence in the data center sector.

Major Humain Contract Drives Expansion

The brothers’ wealth has risen alongside the expansion of Al Moammar Information Systems’ data center project with Humain, the Saudi AI company backed by the Public Investment Fund.

Following the latest expansion, the contract is now valued at more than SAR 8.76 billion, or approximately $2.34 billion.

The project’s planned capacity has increased from 50 megawatts to 250 megawatts, reflecting the rapidly growing demand for computing infrastructure required to train and operate advanced artificial intelligence models and applications.

The expanded contract is equivalent to roughly seven times the company’s 2025 revenue. Al Moammar Information Systems also signed a separate agreement with Humain to provide data center colocation services.

More Than 50% Ownership Fuels Their Wealth

Ibrahim and Khalid Al Moammar own more than 50% of Al Moammar Information Systems, meaning the company’s sharp rise in market value has had a direct impact on the value of their holdings.

The company’s shares reached a record level following the announcement of the expanded data center project, while its market capitalization climbed to approximately SAR 9.75 billion after the stock gained around 87% since the beginning of the year, according to reports citing the Bloomberg Billionaires Index.

Founded in 1979, Al Moammar Information Systems initially operated as an IT services provider before expanding into data centers and digital infrastructure, positioning itself to benefit from the accelerating demand for cloud computing and AI capabilities.

From IT Services to AI Infrastructure

The company’s evolution reflects a broader transformation across Saudi Arabia’s technology sector, where digital infrastructure is moving beyond traditional IT services toward data centers, advanced computing and AI-powered systems.

Its Saudi client base includes major organizations such as Aramco, stc and Al Rajhi, in addition to government ministries and other public-sector entities, according to company disclosures and annual reports.

The expansion comes as Saudi Arabia places AI infrastructure and digital capabilities at the center of its economic diversification strategy, with increasing investment aimed at creating the computing capacity needed to support large-scale digital services.

Humain at the Center of Saudi Arabia’s AI Ambitions

Humain was established in 2025 with backing from Saudi Arabia’s Public Investment Fund and is focused on building the infrastructure and computing capabilities required to train and operate advanced AI models.

Through a growing network of partnerships, the company is expanding Saudi Arabia’s domestic computing capacity while seeking to establish the Kingdom as a major global player in the rapidly developing AI economy.

AI Boom Reshapes the Gulf’s Technology Landscape

The investment wave extends beyond Saudi Arabia, with Gulf countries accelerating spending on data centers and AI infrastructure as sovereign wealth funds seek to position the region at the forefront of the global digital economy.

Sovereign wealth funds across the Gulf collectively oversee more than $4 trillion in assets, while an increasing share of investment is being directed toward artificial intelligence and the infrastructure required to support it. Qatar, for example, has partnered with Brookfield on a $20 billion initiative focused on AI infrastructure investment.

Against this backdrop, the Al Moammar brothers’ rapidly expanding fortune illustrates how the AI infrastructure boom is creating new wealth opportunities for technology companies and their shareholders, particularly as demand for data centers, computing power and advanced digital services continues to accelerate.