MIS sells entire investment in OpenAI, achieving SAR 12.8M capital gains

Al Moammar Information Systems Co. (MIS) announced the sale of its entire investment in OpenAI, valued at $8.4 million (SAR 31.5 million). The cost price of the investment was $5 million (SAR 18.9 million).

According to a statement to Tadawul, the company pointed out that this 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.

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.