OMAN INVESTMENT AUTHORITY INVESTS IN ELON MUSK'S XAI

MUSCAT, Oman, Dec. 19, 2024 /PRNewswire/ -- Oman Investment Authority (OIA), the investment arm of the Sultanate of Oman has invested in xAI, a leading artificial intelligence company that ranks among the top five in its industry and one of Elon Musk's companies. By focusing on advanced technologies, the authority aims to diversify its international portfolio while capitalizing on transformative industries with significant growth potential.

According to OIA, xAI has achieved two major milestones since its launch by Elon Musk in March 2023: the establishment of a large-scale data center in the United States and the rollout of its advanced platform, Grok-2. These achievements are expected to further strengthen the company's market position and drive stronger returns on OIA's investment.

HE Abdulsalam bin Mohammed Al-Murshidi, President of Oman Investment Authority, stated that the investment is the result of a strong and constructive relationship that OIA has built over the years with Elon Musk. He emphasized that this investment supports Oman's broader goals under Vision 2040, which enables the Sultanate to adopt world-class technologies and drive future progress.

xAI aims to be a pioneer in AI systems, offering the ability to process and analyze real-time data, an essential advantage over many competing AI systems. The platform provides advanced tools and detailed analytics, enabling users to optimize large AI models and manage various types of visual data, such as documents, charts, graphs, and photographs.

OIA is also a shareholder in SpaceX, Musk's groundbreaking aerospace company known for its Starlink satellite communication system. This collaboration has been highly successful, with OIA achieving an internal rate of return exceeding 37% on its SpaceX investment. The strong returns are attributed to SpaceX's rapid global expansion and the deployment of its satellite communication services in numerous countries worldwide.

About Oman Investment Authority (OIA)

Oman Investment Authority (OIA) is the investment arm of the Sultanate entrusted with managing, investing, and developing the nation's national and international assets. With a diverse investment portfolio locally and globally, OIA invests in over 40 countries, targeting various sectors, including, energy, logistics, ICT, services, finance and investment, food security, tourism, mining, industry, and aviation. OIA is committed to driving sustainable economic growth and contributing to the well-being of Oman's people while also supporting the Sultanate's vision of becoming a leading investment destination in the region.

Contact:
Fahad Al Toubi, Senior Specialist - Media Relations
+968 24745781
Fahad.AlToubi@oia.gov.om

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

OMAN INVESTMENT AUTHORITY INVESTS IN ELON MUSK'S XAI

SEOUL, South Korea, Dec. 19, 2024 /PRNewswire/ -- Pocamarket, a K-POP photocard trading platform operated by Infludeo Co., Ltd., has been awarded the 'Best K-POP Photocard Platform' at the 2024 KBS N Brand Awards, hosted by KBS N. As a subsidiary of KBS (Korean Broadcasting System), South Korea's leading public broadcaster, KBS N brought together top brands nationwide at this year's ceremony to celebrate their outstanding achievements.

Pocamarket has rapidly emerged as a trusted and reliable platform for K-POP fans, offering a safe, efficient, and user-friendly platform to buy and trade photocards. The company's commitment to innovation and its user-first approach have been highlighted through its large-scale booths at KCON LA 2023 and KCON Hong Kong 2024, both organized by CJ ENM. These high-profile events allowed Pocamarket to engage directly with global fans, further highlighting its cutting-edge services and ability to cater to the diverse needs of the worldwide K-POP fandom.

This award underscores Pocamarket's evolution from a simple trading platform to a key enabler of the globalization and standardization of K-POP culture. As the K-POP fandom grows beyond regional boundaries into a global phenomenon, Pocamarket continues to play a pivotal role in creating new value and connections for fans worldwide.

A Pocamarket representative expressed gratitude, stating: "This award was made possible thanks to the trust and support of fans around the world. We are committed to providing innovative services that ensure a safe and seamless experience for global fans." The representative further added: "We will continue to listen to our users and actively contribute to the growth of the global K-POP fandom culture."

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Pocamarket Wins 'Best K-POP Photocard Platform' at the 2024 KBS N Brand Awards