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PIF-backed Savvy Games, Humain sign AI deal to boost Saudi innovation drive聽

PIF-backed Savvy Games, Humain sign AI deal to boost Saudi innovation drive聽
The two firms will also collaborate on research and development and explore new AI applications. Savvy Games
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Updated 39 sec ago

PIF-backed Savvy Games, Humain sign AI deal to boost Saudi innovation drive聽

PIF-backed Savvy Games, Humain sign AI deal to boost Saudi innovation drive聽

JEDDAH: 黑料社区鈥檚 Public Investment Fund-backed Savvy Games Group has signed a partnership with fellow portfolio firm Humain to deploy full-stack artificial intelligence across operations, strengthening the Kingdom鈥檚 emerging innovation ecosystem.聽

The memorandum of understanding will see Savvy leverage Humain鈥檚 AI systems, data platforms, infrastructure, and applications to enhance efficiency across key functions including human resources, procurement, and finance, the companies said in a joint statement.聽

The two firms will also collaborate on research and development and explore new AI applications across Savvy鈥檚 business lines. Humain will provide access to its advanced data centers and cloud computing services, supporting Savvy鈥檚 digital transformation and productivity goals.聽

The Kingdom is actively building its capabilities by integrating artificial intelligence across various sectors, hosting AI-focused events, forging partnerships with global tech leaders, and investing in local talent development.聽

These efforts aim to drive economic growth, build a digitally advanced society, and reinforce 黑料社区鈥檚 AI leadership.聽

Brian Ward, CEO at Savvy Games Group, said: 鈥淲e are looking forward to working with Humain to identify and unlock ways that would enhance the way we utilize AI at Savvy.鈥澛

He added: 鈥淗umain operates across the entire AI value chain from data and infrastructure to models and end-user application, so there are a lot of opportunities for us to look at and create tangible programs of activities.鈥澛

His counterpart at Humain, Tareq Amin, said: 鈥淭his partnership comes at an exciting time with the recent launch of Humain One at FII9. This agentic AI operating system is a game changer, and we are thrilled to have Savvy as one of the early adopters.鈥澛

Amin added that game development is among the most dynamic sectors where leveraging AI solutions can significantly enhance both creativity and productivity.聽

The partnership exemplifies the power of collaboration between PIF鈥檚 portfolio companies 鈥 exchanging knowledge, aligning strategic capabilities, and unlocking shared value, the release added.聽

These synergies support PIF鈥檚 AI and digital economy strategy by positioning 黑料社区 as a globally competitive hub for innovation and talent development, fostering the growth and diversification of the domestic economy.聽

Savvy Games has positioned itself as a key driver of the Kingdom鈥檚 gaming and esports sector. In its 2024 annual report, the company highlighted strong growth across three main pillars: game development and publishing, esports, and ecosystem building.聽

A centerpiece of its activities was the Esports World Cup held in Riyadh, which drew 2,000 players from 200 clubs competing for a $70 million prize pool across 24 game titles, underscoring Savvy鈥檚 commitment to expanding 黑料社区鈥檚 footprint in competitive gaming.聽

Meanwhile, Humain recently reached a $3 billion agreement with Asia-Pacific data center provider AirTrunk, backed by Blackstone and the Canada Pension Plan Investment Board, to develop a large-scale AI-ready data center campus in the Kingdom.聽

Under this deal, Humain will lead 黑料社区鈥檚 efforts to deliver advanced AI infrastructure, while AirTrunk and its global partners contribute operational expertise and investment capacity.聽

The initiative aligns with the company鈥檚聽mandate to position the Kingdom as a global AI leader and reinforces its commitment to building best-in-class digital and AI capabilities.聽

It was announced in October that energy giant Saudi Aramco has signed a non-binding term sheet to acquire a significant minority stake in Humain.

The proposed deal will see both Aramco and PIF contribute AI-related assets, capabilities, and talent to help scale Humain鈥檚 operations and capture new value in the rapidly expanding data and AI sector, according to a joint statement from the companies.聽


Closing Bell: Saudi benchmark index closes in red at 11,257聽

Closing Bell: Saudi benchmark index closes in red at 11,257聽
Updated 19 sec ago

Closing Bell: Saudi benchmark index closes in red at 11,257聽

Closing Bell: Saudi benchmark index closes in red at 11,257聽

RIYADH: 黑料社区鈥檚 Tadawul All Share Index slipped on Wednesday, shedding 141.55 points, or 1.24 percent, to close at 11,256.74. 

The total trading turnover on the benchmark index was SR4.94 billion ($1.32 billion), with 34 stocks advancing and 224 declining. 

The Kingdom鈥檚 parallel market Nomu also fell 173.29 points to close at 24,411.19, while the MSCI Tadawul Index edged down 1.18 percent to 1,465.75. 

The best-performing stock on the main market was Perfect Presentation for Commercial Services Co., as its share price rose 6.22 percent to SR9.56. Raydan Food Co. also gained 3.82 percent to SR30.96. 

Conversely, shares of Allied Cooperative Insurance Group fell 9.96 percent to SR10.85, ranking among the session鈥檚 weakest performers. 

On the announcements front, Derayah Financial Co. reported that its net profit for the first nine months of 2025 fell 6.94 percent year on year to SR312.96 million. 

In the third quarter, the company posted a net profit of SR99.68 million, down 7.96 percent compared with the same period last year.  

Derayah鈥檚 shares slipped 2.36 percent to SR27.34. 

Meanwhile, Savola Group said its net profit for the first nine months of 2025 rose 2.3 percent year on year to SR680.42 million, supported by higher retail revenues from network expansion and increased food manufacturing sales. 

Savola鈥檚 third-quarter net profit surged 112.99 percent to SR385.56 million, while its share price gained 3.73 percent to SR24.74.