Saudi Arabia’s Al-Moammar Information Systems Company (MIS) has made a $5 million (SAR18.8 million) investment in OpenAI. This investment was made through a private stock sale round of OpenAI employee shares tender offer, resulting in a valuation of $86 billion (SAR322.5 billion) for the company. The investment was advised by Decisive Capital Management, based in Geneva, Switzerland.
OpenAI is a renowned global leader in artificial intelligence (AI), particularly known for its groundbreaking work in Large Language Models (LLMs) such as ChatGPT. Their contributions have revolutionized the field of natural language understanding and spurred innovation.
Read more: AI-powered X: Enhancing user experience and connectivity
AI efforts
Al-Moammar recently announced another investment of $5 million in Anthropic on January 21. This investment was part of Anthropic’s Series D funding round, with a pre-cash valuation of $15 billion (SAR56 billion).
On January 11, Al-Moammar’s board of directors approved the allocation of $10.7 million (SAR40 million riyals) for the establishment of an investment portfolio through self-financing. This initiative aimed to invest in international AI companies, capitalizing on the growth opportunities in this field.
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