Diriyah Company Signs MoU with Deutschland Technology to Elevate Safety Standards in Development Projects

The signing of the MoU is part of Diriyah Company's policies aimed at developing Diriyah - SPA
The signing of the MoU is part of Diriyah Company's policies aimed at developing Diriyah - SPA
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Diriyah Company Signs MoU with Deutschland Technology to Elevate Safety Standards in Development Projects

The signing of the MoU is part of Diriyah Company's policies aimed at developing Diriyah - SPA
The signing of the MoU is part of Diriyah Company's policies aimed at developing Diriyah - SPA

Diriyah Company said it has entered into a memorandum of understanding (MoU) with Deutschland Technology to enhance fire safety standards and procedures across various development projects, including heritage sites, tourism, and cultural destinations in Diriyah.
This collaboration addresses construction and development challenges while aligning with the Kingdom's Vision 2030 goals, according to a press release issued by the company on Sunday.
"The MoU underscores Diriyah Company's commitment to consistently improve safety best practices, prioritizing the highest protection standards," the statement said.
According to the release, in recent years, Diriyah Company has achieved significant safety milestones, such as receiving approval from TUV Austria, an international accreditation authority specializing in testing, inspection, conformity, and quality assurance. This recognition affirms that Diriyah Company's occupational health and safety management system meets ISO 45001 standards.
Diriyah Company GCEO Jerry Inzerillo said: "This is a significant moment for our development projects as Diriyah is committed to the most stringent health and safety standards, and we look forward to enhancing them further through this agreement with Deutschland Technology's capabilities and expertise in fire safety."
The MoU involves training, information sharing, studies, research, and staying updated on the latest developments in fire safety. Additionally, it includes leveraging Deutschland Technology's expertise in research and development to create innovative solutions for enhanced protection.
The partnership aims to deliver tangible outcomes that will positively impact the community in accordance with Diriyah Company's established mechanisms and systems. It focuses on enhancing the capabilities and skills of management and employees in emergency response and fire prevention. The collaboration will also extend to volunteer initiatives within the Diriyah community, including workshops on fire safety education designed to raise awareness among residents about fire safety measures and practices, inspiring a safer and more secure community.
The signing of the MoU is part of Diriyah Company's policies aimed at developing Diriyah, a city of immense historical significance as one of the most prominent historical sites in Saudi Arabia and the capital of the First Saudi State.
Diriyah Company is dedicated to showcasing the city's rich history and cultural heritage through careful urban planning and vibrant cultural initiatives. It aims to provide a unique and enriching experience by collaborating closely with governmental and private entities. Diriyah strives to serve the community, promote development, and contribute to cultural and economic progress.
With over 20 years of expertise in fire safety and 12 branches worldwide, Deutschland Technology perfectly aligns with Diriyah Company's unwavering commitment to safety. The development and implementation of an occupational health and safety management system across Diriyah upholds international standards and ensures ongoing compliance. This strategy gives stakeholders, employees, and partners confidence in Diriyah Company's dedication to maintaining the highest safety standards in all its operations.



Dell Raises Forecasts as Demand Surges for Nvidia Powered AI Servers 

The logo of Dell Technologies at the Milipol Paris in Villepinte near Paris, France, November 15, 2023. (Reuters)
The logo of Dell Technologies at the Milipol Paris in Villepinte near Paris, France, November 15, 2023. (Reuters)
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Dell Raises Forecasts as Demand Surges for Nvidia Powered AI Servers 

The logo of Dell Technologies at the Milipol Paris in Villepinte near Paris, France, November 15, 2023. (Reuters)
The logo of Dell Technologies at the Milipol Paris in Villepinte near Paris, France, November 15, 2023. (Reuters)

Dell Technologies raised its annual revenue and profit forecasts on Thursday, buoyed by demand for its AI-optimized servers that are powered by Nvidia's powerful chips, sending its shares up about 3% in extended trading.

Dell's infrastructure solutions group, which includes Nvidia-powered servers, surged 38% to a record revenue of $11.65 billion in the second quarter.

The company's servers are engineered to handle AI systems' intense computational demands, including training large language models.

"Enterprise remains a significant opportunity for us, as many are still in the early stages of AI adoption," Chief Operating Officer Jeff Clarke said in a post-earnings call.

Clarke said that Dell sees an emerging opportunity in "sovereign AI" by leveraging the company's strong relationships with governments globally.

Nvidia on Wednesday said nations building AI models in their own languages were turning to its chips, and that this would contribute about low double-digit billions to its revenue in the financial year ending in January 2025.

Nvidia CEO Jensen Huang called out the partnership with Dell earlier this year, saying they were helping businesses create their own "AI factories."

Dell's stock has risen 45% this year.

Dell said on Thursday it now expects annual revenue outlook to be between $95.5 billion and $98.5 billion, up from $93.5 billion and $97.5 billion previously. It also raised its annual adjusted profit per share forecast to $7.80, plus or minus 25 cents.

Demand for its AI-optimized servers rose about 23% sequentially to $3.2 billion in the second quarter. The backlog for these AI servers was $3.8 billion.

"Our pipeline has grown to several multiples of our backlog," Clarke said in a statement.

Revenue for the second quarter ended Aug. 2 rose about 9% to $25.03 billion, beating analysts' average estimate of $24.14 billion, according to LSEG data. It reported adjusted profit per share of $1.89 per share, compared with estimates of $1.71 per share.

While AI server demand soared, Dell's PC business struggled, losing market share to rivals. However, a strong refresh cycle for

AI PCs are expected next year after Microsoft ends support for Windows 10.

Revenue for the client solutions group - home to PCs - fell about 4% to $12.41 billion.

"Dell lost PC shipment shares in key markets in the second quarter. It is the top vendor in the US business market, but its competitors have shown growth and gained more shares than they did a year ago," said Mikako Kitagawa, director analyst at Gartner.

The company took a $328 million charge for workforce reductions in the second quarter.

Separately, Reuters exclusively reported earlier on Thursday that Dell is again exploring a possible sale of cybersecurity firm SecureWorks, following previous unsuccessful attempts to find a buyer.