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RIYADH: Al Moammar Information Systems Co.’s shares rose 3.73 percent on news that it was awarded a SR58 million ($15 million) contract by NEOM for research collaboration and tech patenting projects.
Al Moammar’s shares reached SR105.80 at the end of Tuesday, up from SR102.00 the previous day.
The project includes providing the services of suggesting, advising, vetting, and establishing applied research collaborations with research institutions, the information technology firm said in a bourse filing.
The project aligns with NOEM's patents in the areas of emergent technology, cognitive computing, artificial general intelligence, artificial narrow and specific intelligence, and deep learning.