Saudi IT company invests $5m in OpenAI

Saudi IT company invests $5m in OpenAI

The Saudi IT company Al Moammar Information Systems has announced an investment of $5 million in the US artificial intelligence (AI) research company OpenAI.  Al Moammar recently established a portfolio to invest in international companies in the field of artificial intelligence.  Bloomberg reported in December that in early January OpenAI would complete a tender offer […]

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The Saudi IT company Al Moammar Information Systems has announced an investment of $5 million in the US artificial intelligence (AI) research company OpenAI. 

Al Moammar recently established a portfolio to invest in international companies in the field of artificial intelligence. 

Bloomberg reported in December that in early January OpenAI would complete a tender offer led by Thrive Capital that would allow employees to sell shares with a valuation of $86 billion. 

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The report said that OpenAI was also in early talks to raise a fresh round of funding at a valuation at or above $100 billion and had discussed raising $8 billion and $10 billion for a new chip venture with the Abu Dhabi-based company G42. 

News reports over the past week