RIYADH: Saudi tech firm Al-Moammar Information Systems Co. plans to invest $1 million in a controlling stake in Elon Musk’s artificial intelligence company, xAI Corp., according to Al-Ekhbairya. The Saudi company clarified that this investment constitutes a portion of xAI’s Series B funding round, with a pre-money valuation of $18 billion. As per its website, Musk’s xAI is focused on developing AI to accelerate human scientific discovery. “We are guided by our mission to advance our collective understanding of the universe,” it says.