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MIS grabs stake in OpenAI rival Anthropic: IT solutions provider Al Moammar Information Systems (MIS) has acquired an undisclosed stake in San Francisco-based AI startup Anthropic through a USD 5 mn equity investment, it said in a disclosure to Tadawul yesterday. The transaction is part of Anthropic’s Series D funding round at a precash valuation of USD 15 bn, according to the company.
All part of a big plan by MIS: The investment is part of a SAR 40 mn allocation agreed in December by the company to set up an investment portfolio directed towards global AI firms.
About Anthropic: Co-founded by siblings and former OpenAI executives Dario and Daniela Amodei, Anthropic is the developer of Claude, an AI assistant emerging as a rival to OpenAI’s ChatGPT.
We already know Anthropic was on a hunt for funding: Anthropic has reportedly been in talks to raise USD 750 mn in a funding round led by Menlo Ventures, Reuters reported in December, citing a source close to the talks. The source set the startup’s pre-funding valuation at USD 18.4 bn. It has lured investments from several tech giants in recent months, with Google and Amazon each agreeing to invest USD 2 bn and USD 4 bn, respectively.
Advisors:Geneva-based Decisive Capital Management acted as MIS’s advisor in the transaction.
