Saudi IT company invests $5m in OpenAI
- Date: 24-Jan-2024
- Source: AGBI
- Sector:Technology
- Country:Saudi Arabia
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.
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