MIS invests $5M in Anthropic

21/01/2024 Argaam
Logo ofAl Moammar Information Systems Co. (MIS)

Logo of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co. (MIS) announced an investment of $5 million in Anthropic Co., as part of Anthropic's Series D funding round at a pre-cash valuation of $15 billion (SAR 56 billion), according to a statement to Tadawul. 

 

The transaction was advised by Switzerland-based Decisive Capital Management. 

 

Anthropic is a leading firm in large language modeling (LLM), offering expertise and innovation in advanced language processing. The company is backed by major technology and artificial intelligence (AI) investors such as Menlo Ventures, Google, Amazon, Salesforce Ventures, and others. 

 

Any related developments will be disclosed in due course, the statement added.  

 

On Jan. 11, MIS board approved allocating SAR 40 million to establish a self-financed investment portfolio. The portfolio will invest in international companies in the field of AI to benefit from the growth in opportunities in this lucrative field, data compiled with Argaam showed.  

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