MIS sells entire investment in OpenAI, achieves capital gain of SAR 12.8M

10:43 AM (Mecca time) Argaam
Logo ofAl Moammar Information Systems Co. (MIS)

Logo of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co. (MIS) announced the sale of its entire investment in OpenAI for $8.4 million (SAR 31.5 million), according to a Tadawul statement.

 

The cost price of the investment was $5 million (SAR 18.9 million).

 

The transaction resulted in a positive financial impact of $3.4 million (SAR 12.8 million), which will be reflected in the financial results for Q1 2025.

 

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The sale is part of MIS’ strategy to explore other investment opportunities, the statement added.

 

According to data available with Argaam, MIS invested $5 million in January 2024 to acquire a stake in OpenAI.

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