MIS board OKs allocating SAR 30M for investment in global tech firms

02/12/2024 Argaam
Logo ofAlMoammar Information Systems Co. (MIS)

Logo of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co.’s (MIS) board approved today, Dec. 2, the allocation of SAR 30 million to establish an investment portfolio through self-financing.

 

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This portfolio aims to invest in global technology companies and capitalize on growth opportunities in this promising sector, the company said in a statement to Tadawul.

 

Earlier this year, the board approved the allocation of SAR 40 million for investment in global artificial intelligence companies.

 

With the latest decision, the total amount allocated by the board thus far stands at SAR 70 million for the establishment of an investment portfolio through self-financing, focused on investing in global artificial intelligence companies to leverage growth opportunities in this promising field.

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