Oman wealth fund buys stake in Musk's AI company
MUSCAT, 2 hours, 43 minutes ago
In a major move, the Oman Investment Authority (OIA) has acquired a key stake in XAI, an US company owned by celebrity billionaire Eleon Musk which specialises in artificial intelligence (AI) technology, as part of its global expansion strategy, reported Oman News Agency.
OIA is also a stakeholder in SpaceX, Musk's space technology company which owns the Starlink satellite communication system.
Announcing the move, OIA Chairman Abdulsalam Al Murshidi said this was in line with the Authority's strategy to invest in advanced technologies across diverse sectors.
XAI is one of Musk's companies and ranks among the top five in its field, having achieved milestones such as the creation of a massive data center in the US and the launch of the upgraded Grok 2 platform.
It aims to lead AI technology by understanding and analyzing real-time data, a feature lacking in many competing models, he stated.
The platform provides advanced tools and comprehensive analytics to help users explore and improve AI models, processing a wide range of visual data, including documents, charts, graphs, and photographs, he added.
Speaking on the occasion, Musk, through video conference, said that the partnership with XAI will yield results in developing superintelligent AI capable of solving numerous problems.
He also revealed that the company was nearing completion of training the 'Grok 3' model, which will be the smartest AI model in the world.
