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Informatica Inc. (NYSE:INFA) disclosed the launch of its AI-powered Intelligent Data Management Cloud (IDMC) in Saudi Arabia.
This is Saudi Arabia’s first AI-powered IDMC Platform, which includes establishing a new Point of Delivery (PoD) in Riyadh.
The Informatica IDMC is a comprehensive cloud-native data management platform that allows enterprises to analyze and collaborate with all their data regardless of location or platform.
The move further strengthens Informatica’s presence in the Middle East following the launch of its first regional PoD in Abu Dhabi, UAE, in 2023.
The new PoD launch will help expedite the shift of the Saudi government’s organizations to a secure, cloud-based alternative from traditional IT systems.
Jitesh Ghai, Chief Product Officer, Informatica said, “Saudi Arabia is fast making headway on its journey to become a technology hub for the Middle East and is creating a solid cloud foundation to realize its Vision 2030 ambitions.”
“By having a significant cloud, data, and AI presence in the Kingdom, we will be providing organizations with an in-country AI-powered data infrastructure to run their cloud-based technology solutions. This can enable them to unlock the value of their data while ensuring that it remains secure, well-governed and in region.”
Investors can gain exposure to the stock via ProShares Big Data Refiners ETF (NYSE:DAT) and Series Portfolios Trust Adaptiv Select ETF (NYSE:ADPV).
Price Action: INFA shares are down 0.37% at $35.17 premarket on the last check Tuesday.
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