MIS exits xAI, records SAR 12.2M gain on stake sale

10:30 AM (Mecca time) Argaam
Logo ofAl Moammar Information Systems (MIS)

Logo of Al Moammar Information Systems (MIS) 

Al Moammar Information Systems (MIS) sold its entire stake in xAI for SAR 15.9 million ($4.24 million).

 

In a statement to Tadawul, the company said the investment cost reached SAR 3.75 million ($1 million), resulting in a positive financial impact of SAR 12.2 million ($3.24 million), which will be reflected in Q4 2025 results.

 

MIS added that the sale is part of its strategy to explore other investment opportunities.

 

The company added that the transaction was completed on Dec. 25.

 

According to Argaam data, MIS’s board approved in January 2024 the allocation of SAR 40 million to establish a self-financed investment portfolio targeting global artificial intelligence companies.

 

MIS announced in May 2024 an investment of SAR 3.75 million ($1 million) to acquire a stake in xAI.

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