MUSCAT : This move marks another milestone in OIA’s strategic expansion into advanced technology sectors, aligning with Oman Vision 2040 and the Sultanate’s aspirations for global innovation leadership.

Founded in March 2023, xAI is already among the top five companies in the field of artificial intelligence. The firm aims to develop highly intelligent AI systems capable of understanding, analyzing, and optimizing vast data sets. xAI recently achieved two major breakthroughs: establishing a state-of-the-art data center in the United States and launching the advanced version of its platform, “2-Grok.”

Commenting on the investment, H.E. Abdul Salam bin Mohammed Al Marshadi, Chairman of the OIA, stated:
“This investment is the culmination of the positive relationship that the Authority has successfully built over the past years with Elon Musk. The investment is also one of the enablers for the Sultanate of Oman to benefit from world-leading technologies in various fields, ensuring its confident progress in accordance with the national goals of Oman Vision 2040.”

Elon Musk expressed enthusiasm for the partnership, noting:
“The Omani partnership in general in the xAI platform is a great idea, as these investments will pay off when we build together a superior AI that will enable us to solve many problems, as we will soon finish training the model “Grok 3” which we believe will be the smartest AI model in the world.”

Through this strategic acquisition, the OIA reinforces its commitment to diversifying its investment portfolio, with internal returns exceeding 37% so far. The investment builds on the Authority’s successful ventures in sectors like SpaceX and other advanced technologies, further positioning Oman as a hub for cutting-edge innovation.

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