Oman Investment Authority Acquires Stake in xAI

The Oman Investment Authority (OIA) has announced its acquisition of a stake in xAI, an artificial intelligence company founded by Elon Musk, marking a strategic move to diversify its international investments. The investment aligns with Oman’s Vision 2040, aiming to enhance the Sultanate's technological capabilities and support its digital economy growth. xAI has made significant strides, including the establishment of a major data center and the launch of its Grok-2 platform, with plans for the advanced Grok-3 model underway. The size of the investment has not been disclosed, but it builds on OIA's existing stake in Musk's SpaceX. OIA's Chairman emphasized the importance of adopting cutting-edge technologies to bolster various sectors within Oman. This partnership reflects a broader trend of Gulf investments in advanced technology ventures, as seen with previous funding rounds involving major regional investors.