The company Alma’mar for Information Systems “MS” announced its intention to invest 5 million dollars (equivalent to 18.75 million riyals) in purchasing its share of “OpenAI”.
In a statement released on “Tadawul Saudi Arabia,” “MS” announced its investment in OpenAI through a stock sale round designated for its employees. The company was valued at $86 billion and received guidance on the deal from Decisive Capital Management, based in Geneva, Switzerland.
OpenAI is globally recognized as a leading company in the field of artificial intelligence, known for its innovative work in large language models (LLMs) such as ChatGPT, redefining the innovation scene and language understanding. Despite that, OpenAI continues to maintain its position as a leading AI company thanks to the support of Microsoft, as confirmed by surveys and investigations.
The board of directors’ decision of “Alma’mar for Information Systems” to allocate 40 million riyals to establish an investment portfolio in international companies in the field of artificial intelligence aims to capitalize on the growth opportunities available in this promising investment sector, and this portfolio will be self-funded.
