Investopia 2023 ready to highlight ‘opportunities in times of change’

The second edition of the event will be held at the Hilton Abu Dhabi Yas Island. (WAM)
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Updated 27 February 2023
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Investopia 2023 ready to highlight ‘opportunities in times of change’

  • Two-day event opens in Abu Dhabi on Thursday
  • 2,000 entrepreneurs, business leaders, government officials set to attend

ABU DHABI: More than 2,000 government officials, entrepreneurs and thought leaders from around the world are set to attend the second edition of Investopia, which opens in the UAE capital on Thursday.

The theme of this year’s event, held at the Hilton Abu Dhabi Yas Island, is “Envisioning Opportunities in Times of Change.” There will also be three sub-themes: “Envisioning Opportunities in Today’s Economy,” “The Future of National Wealth” and “Growth Opportunities in Times of Decarbonisation,” Emirates News Agency reported.

As well as presentations by more than 100 speakers, delegates from 40 countries will discuss topics such as institutional asset allocation, AI, emerging markets, venture investing, digital assets, mobility and biotechnology.

UAE’s Minister of Economy Abdullah bin Touq Al-Marri said: “The second edition of the conference kicks off at a very important time globally, as we witness structural transformations in markets, global investment trends and the rapid advancement of fourth industrial revolution technologies, all while moving toward investments in a sustainable and low-carbon economy.

“We in the UAE have set an ambitious future vision of creating the optimal environment for conducting business. However, our focus extends beyond merely enhancing our investment attraction capabilities. Our focus is on achieving our aspirations of sustainable development through these investments,” he added

“Investopia plays a vital role in the UAE’s efforts to provide a platform for business leaders and government officials worldwide to engage in global discussions, establish partnerships and integrate new developmental and technological trends in the world of business and economy, promoting sustainable solutions for a better future.”

Investopia is a global investment platform launched by the UAE. This year’s event will also include a series of round tables by the Canada-UAE Business Council, Business Finland and the Emirates News Agency, and meetings between the leaders of global institutions on investment opportunities and areas for collaboration.

 


Saudi PIF-backed Humain awards AI data center project to MIS 

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Saudi PIF-backed Humain awards AI data center project to MIS 

RIYADH: Humain, an artificial intelligence company backed by Saudi Arabia’s Public Investment Fund, has awarded Al Moammar Information Systems Co. a contract to design and build a data center dedicated to AI technologies. 

In a filing to Tadawul, MIS said the project’s value exceeds 155 percent of its total revenues for 2024. The company reported revenues of SR1.21 billion ($320 million) last year, implying a contract value of nearly SR1.88 billion. 

The development aligns with Saudi Arabia’s Vision 2030 program, which aims to position the Kingdom as a regional technology hub by the end of the decade. 

The contract is expected to be signed on Feb. 15, 2026, and does not involve any related parties, according to the statement. MIS will design and construct a private AI-focused data center for Humain. 

Earlier this month, Saudi Telecom Co. signed an agreement with Humain to launch a joint venture to develop and operate data centers dedicated to artificial intelligence in the Kingdom. 

According to a Tadawul filing, Humain will hold a 51 percent stake in the joint venture, while stc will own the remaining 49 percent. 

The data center will be developed through stc’s subsidiary Digital Data and Communications Centers, also known as center3. 

The facility will feature advanced infrastructure capable of supporting up to 1 gigawatt of power, starting with an initial capacity of 250 megawatts, subject to customer demand. 

Saudi Arabia has been ramping up its AI ambitions. Earlier this month, the Saudi Press Agency, citing the Global AI Index, said the Kingdom ranked fifth globally and first in the Arab region for growth in the AI sector. 

The report said the ranking reflects the Kingdom’s progress in artificial intelligence and the success of its economic diversification strategy under Vision 2030. 

Separately, MIS said on Dec. 24 that it signed a SR114.43 million contract with the Saudi Central Bank to renew IT systems support licenses. The 36-month agreement covers license renewals and ongoing support, with the financial impact expected to be reflected in the company’s fourth-quarter results.