Photo: KAFD
The latest tracking of Saudi ICT deals highlights significant activity across enterprise technology, infrastructure financing, and institutional updates during the final week of October 2026. Telecom operator stc announced cash dividends totaling SAR 2.74 billion alongside its third-quarter financial results, according to financial data reported by المتداول العربي, reflecting steady fiscal performance in the kingdom’s core telecom market.
Capital funding and corporate investment
In global cloud enterprise commitments, Snowflake announced a $300 million investment in Saudi Arabia to expand its cloud data platform presence and services in the Kingdom, as reported by Gulf Daily News (Bahrain). Additional press coverage stated that Snowflake plans to invest $300 million in Saudi Arabia through 2030 to strengthen its presence in the Kingdom’s digital technology market, according to الشرق الأوسط.
Meanwhile, early-stage capital saw active rounds in financial and event technology. Saudi fintech startup Vrtx raised $3.6 million in a pre-seed round to build embedded finance infrastructure, noted بوابة التكنولوجيا المالية. Backing for the $3.6 million round came from SC Ventures, Sadu Capital, BYLD, Suhail Ventures, F6 Ventures, TAZ Investment, and Palm Vent, according to Wamda. Concurrently, Saudi eventtech startup INVE raised $300,000 in a pre-seed round led by Outliers VC to scale its event platform across the GCC, reported by Wamda. At the municipal level, the Eastern Province and Holy Capital municipalities awarded a total of SAR 75,000 in prizes to three projects at the closing of the Municipal Innovation Hackathon 2026, as detailed by Al Yaum.
Public sector agreements and Saudi ICT deals
Public sector procurement expanded through contracts awarded by the Saudi Data and AI Authority (SDAIA). Al-Muammar Information Systems signed a SAR 134.84 million contract with SDAIA to supply specialized devices and technologies, as noted by بوابة التكنولوجيا المالية. The transaction was described as a SAR 134.84 million framework contract to support data and AI infrastructure in the Kingdom by Asharq Al-Awsat. Covering data and AI sector development, the framework agreement was valued at SAR 134.8 million according to ارقام : اخبار ومعلومات سوق الأسهم السعودي – تاسي, and was detailed as part of government digital technology projects by jawlah.co.
In a separate transaction recorded this week, MIS signed a SAR 86.13 million project contract with SDAIA, as confirmed by ارقام : اخبار ومعلومات سوق الأسهم السعودي – تاسي. This contract adds directly to enterprise procurement and institutional compute resources.
Digital platform updates and services
Government services also expanded linguistic reach for users across the country. The General Organization for Social Insurance (GOSI) added seven languages, including Urdu, Bengali, and Indonesian, to its website and app to make its digital services easier for non-Arabic speakers, reported Saudi Gazette.
Academic and technical training programs
Workforce development initiatives accompanied new Saudi ICT deals across academic entities. SDAIA opened registration for its AI scholarship program, enabling participants to join top 50 global universities in AI specializations, according to an update posted on X @SDAIA_SA. In addition, the Islamic University launched a new academic program in robotics engineering and artificial intelligence to build national talent in these fields, according to SPA (English).
