Saudi Tech Firm MIS Invests in Elon Musk’s xAI
Saudi tech firm Al-Moammar Information Systems Co. will invest one million dollars in Elon Musk’s AI company, xAI Corp. This is part of a broader 10.6 million dollar investment to capture AI sector growth. Saudi Arabia aims to be a global AI leader by 2030.
Saudi technology company Al-Moammar Information Systems Co. (MIS) plans to invest one million dollars in Elon Musk's AI venture, xAI Corp., as part of xAI's Series B funding round, which values the company at 18 billion dollars.
xAI aims to develop AI technologies to accelerate human scientific discoveries.
In January, MIS's board approved the allocation of 40 million Saudi riyals (10.6 million dollars) for investments in global AI companies to capture growth opportunities in the sector.
MIS has also secured the Cisco Master Security Specialization in Saudi Arabia, demonstrating its expertise in delivering advanced solutions.
This aligns with Saudi Arabia’s National Strategy for Data and AI, aspiring to position the Kingdom as a global tech leader by 2030.
Saudi Finance Minister Mohammed Al-Jadaan emphasized the Kingdom’s commitment to AI at the G7 finance ministers' meeting in Italy, aligning with global development goals.
xAI aims to develop AI technologies to accelerate human scientific discoveries.
In January, MIS's board approved the allocation of 40 million Saudi riyals (10.6 million dollars) for investments in global AI companies to capture growth opportunities in the sector.
MIS has also secured the Cisco Master Security Specialization in Saudi Arabia, demonstrating its expertise in delivering advanced solutions.
This aligns with Saudi Arabia’s National Strategy for Data and AI, aspiring to position the Kingdom as a global tech leader by 2030.
Saudi Finance Minister Mohammed Al-Jadaan emphasized the Kingdom’s commitment to AI at the G7 finance ministers' meeting in Italy, aligning with global development goals.
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