Saudi IT Group MIS fully divests investment in US AI firm Anthropic
Saudi Arabia-listed Al Moammar Information Systems (MIS) has divested 100% of its investment in American artificial intelligence (AI) firm Anthropic for $9.33 million.
The transaction generated $4.26 million in profit for MIS that will be reflected in the second-quarter 2025 financial results, the company confirmed on Tuesday.
MIS earlier said it would establish an investment portfolio in global AI companies, as part of its strategy to enhance revenue streams. It initially allocated SAR 40 million for the purpose through self-financing.
Last year, MIS invested $5 million in Anthropic as part of a Series D funding round.
(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
28 minutes ago
- The National
Skytrax World's Best Airlines 2025: Which Middle Eastern airline topped the list?
Qatar Airways has been named Skytrax's Best Airline of 2025. This marks the ninth time the carrier has won the title in the 26-year history of the awards. It was also named Best Airline in the Middle East, World's Best Business Class and Best Business Class Airline Lounge, as announced at the Paris Airshow at Le Bourget. Singapore Airlines, a five-time winner of World's Best Airline award, took second place this year, also receiving the award for World's Best Cabin Crew, along with World's Best First Class and Best Airline in Asia. Hong Kong's flag carrier Cathay Pacific was third, followed by Dubai's Emirates Airline in fourth place and Japan's ANA (All Nippon Airways) in fifth place. Turkish Airlines, South Korea's flag carrier Korean Air, France's flag carrier Air France, Japan Airlines and China's Hainan Airlines rounded out the top 10. 'We welcomed back a large number of previous winners and were also delighted to see new faces and airlines represented here today,' said Edward Plaisted, chief executive of Skytrax. 'As is indicated by so many former winning airlines being awarded again, quality consistency is clearly well recognised by customers when they vote for these airlines.' The 'wholly independent and impartial' awards, which began in 1999, gathered votes and data from surveys of more than 22 million customers, with more than 325 airlines featured this year. The world's top 20 airlines in 2025 1. Qatar Airways 2. Singapore Airlines 3. Cathay Pacific 4. Emirates 5. ANA 6. Turkish Airlines 7. Korean Air 8. Air France 9. Japan Airlines 10. Hainan Airlines 11. Swiss International Air Lines 12. Eva Air 13. British Airways 14. Qantas Airways 15. Lufthansa 16. Virgin Atlantic 17. Saudia (formerly Saudi Arabian Airlines) 18. Starlux Airlines 19. Air Canada 20. Iberia
Zawya
44 minutes ago
- Zawya
Egypt: Atlas for Investment and Food Industries registers 14.1% YoY fall in Q1 2025 standalone losses
Arab Finance: The standalone net losses of Atlas for Investment and Food Industries (AIFI) dropped by 14.13% year-on-year (YoY) to EGP 1.668 million in the first quarter (Q1) of 2025, according to the financial results. In Q1 2024, the company's net losses stood at EGP 1.943 million. Non-consolidated loss per share was kept unchanged at EGP 0.003 in the first three months of 2025. Established in October 1997, Atlas focuses on real estate, farm development, and agricultural processing. It is also a parent for four companies, namely: Atlas Siwa, Atlas Food, Atlas Farms, and Atlas Real Estate. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
44 minutes ago
- Zawya
Kuwait crude oil gain 67 cents Tues. to USD 74.24 pb
KUWAIT, June 18 (KUNA) -- Kuwait crude oil edged 67 cents higher during Tuesday's trading to reach USD 74.24 per barrel compared with USD 73.57 pb the day before, Kuwait Petroleum Corporation (KPC) said Wednesday. Brent futures surged USD 3.22 to USD 76.45 pb and West Texas Intermediate rose USD 3.07 to USD 74.84 pb. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
