The Oman Investment Authority (OIA), the sultanate’s sovereign wealth fund, has acquired a stake in xAI, a leading US-based artificial intelligence (AI) firm founded by billionaire entrepreneur Elon Musk.
Supported by a team led by Musk and backed by leading players in the field, xAI has become a significant contributor in the AI industry and is widely accepted as one of the top five companies in its field.
According to the Oman News Agency (ONA), xAI has recently achieved two major milestones: the establishment of a state-of-the-art data center in the United States and the launch of an enhanced version of its AI platform, Grok-2.
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Grok-2 is xAI’s leading language model with state-of-the-art reasoning capabilities.
Oman’s strategic tech investment
OIA chairman Abdulsalam Mohammed Al Murshidi pointed out the strategic value of the investment as part of the sultanate’s broader initiative to capitalize on cutting-edge global technologies across multiple sectors, the state news agency reported.
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The investment aims to accelerate the development of a highly advanced AI system designed to solve a wide range of challenges. xAI is also nearing the development of its next-generation Grok-3 model, which is poised to become one of the most sophisticated AI systems in the world, according to the report.
At the heart of xAI’s platform is its ability to process and analyze real-time data – an innovative feature that has made it the leader in the emerging technology. The platform provides advanced tools and analytics to optimize the performance of large AI models, while also effectively handling diverse types of visual data, including documents, charts, graphs, and photographs, the statement said.
