“Kingdom Holding”: 11.6 billion riyals increase in the value of assets invested in xAI
Kingdom Holding Company announced today, Monday, the expected financial impact of its investment in xAI (one of the company’s investments), after the recent merger between xAI and SpaceX.
The company explained that this process resulted in a revaluation of xAI at 250 billion US dollars, while the estimated value of the entity resulting from the merger was 1.25 trillion US dollars.
Based on the available data, the company estimates that the revaluation of its investment in xAI, according to the levels indicated in the merger process, will have a positive impact on the value of the fair value reserve within other comprehensive income, and an increase in the value of the company’s net assets by 11.6 billion Saudi riyals, compared to the value of the investment in xAI as stated in the most recent preliminary financial statements.
It is worth noting that this investment embodies the company’s ability to seize qualitative investment opportunities and enter into strategic deals and partnerships, supported by its investment experience, international relations, and position in global markets, which enhances the value of The company’s long-term investment portfolio.
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