Muscat - Sharikat Mubasher: Oman Investment Authority (OIA) announced its investment in xAI, a leading artificial intelligence (AI) company owned by Elon Musk, in a move to diversify its international portfolio and support growth across various sectors, according to OIA’s recent statement.

In a statement, the authority revealed that the investment reflects its commitment to adopting advanced technologies across diverse investment sectors and underpins its dedication to diversifying international investments.

The partnership perfectly aligns with OIA’s strategy of building on the success of its investment in SpaceX, which delivered an internal rate of returns surpassing 37% to date.

xAI focuses on developing advanced AI capable of understanding and analyzing real-time data and provides leading-edge tools and comprehensive analytics to enhance the capabilities of large AI models.

OIA’s President Abdulsalam Al Murshidi commented on this partnership: “This investment is the result of a strong and constructive relationship that OIA has built with Elon Musk over the years. This investment supports Oman's broader goals under Vision 2040, which enables the Sultanate to adopt world-class technologies and drive future progress."

On his part, Musk said: “The partnership between Oman and the Gulf countries with xAI is an excellent idea. These investments will bear fruit as we work together to build a superintelligent AI capable of solving numerous problems. We are nearing the completion of training the Grok 3 model, which we believe will be the smartest AI model in the world.”

 xAI has achieved two significant milestones since its launch: establishing a large data center in the US and launching the upgraded version of its platform, Grok-2. These achievements are expected to further strengthen the company’s market position and boost the returns on OIA's investment.