Ooredoo Group has introduced a QAR 2 billion financing deal to develop capability at its knowledge facilities, modernise them and speed up its AI enterprise. The ten-year hybrid facility, signed with QNB, Doha Financial institution, and Masraf Al Rayan, is the biggest tech-sector transaction in Qatar’s historical past, Ooredoo Group stated in an change submitting on Wednesday.
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Funds for Knowledge Heart Growth
The funding contains each business and Islamic tranches and will likely be strategically allotted to carve out current knowledge middle belongings from Ooredoo’s telecom operations. A good portion will likely be directed towards increasing capability and upgrading infrastructure to help the rising demand for AI, cloud companies, and hyperconnectivity within the MENA area, the corporate stated.
Ooredoo Group commented: “The MENA area is among the fastest-growing markets for knowledge facilities worldwide, and there may be vital untapped potential in AI, cloud companies, and accelerated computing. This financing deal marks a significant milestone in our strategic imaginative and prescient for increasing our knowledge middle and AI enterprise.”
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Sustainable Knowledge Facilities
Ooredoo’s Knowledge Centre firm offers colocation companies to hyperscalers and enterprises. As a part of its strategic development, the corporate plans to develop its capability to over 120 megawatts by a USD 1 billion funding within the medium to long run.
Ooredoo stated it has 26 energetic knowledge facilities throughout Qatar, Kuwait, Oman, Iraq, and Tunisia. The corporate plans to construct a brand new era of sustainable, energy-efficient knowledge facilities that may course of IT workloads for governments, hyperscalers, enterprises, and startups to help AI adoption throughout the area.
Collaboration with Nvidia
Earlier this yr, Ooredoo Group introduced a collaboration with Nvidia, which is able to permit the corporate to leverage Nvidia’s computing platform for AI-driven options throughout the MENA area and supply sovereign cloud options to governments and enterprises.
Ooredoo is a world communications firm working throughout the Center East, North Africa, and Southeast Asia.
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