JEDDAH: Humain, an AI company owned by Saudi Arabia’s Public Investment Fund, put $3 billion into Elon Musk’s xAI just before SpaceX bought the venture. According to a news release, Humain bought a large minority position in xAI as part of its Series E round. This stake was then turned into shares of SpaceX.
As part of its Vision 2030 diversification strategy, PIF is trying to make Saudi Arabia a central hub in the global AI ecosystem. This deal is part of that effort. The fund wants to use Humain to mix investing money with building infrastructure, teaming up with top IT companies, and developing domestic capacity to rely less on oil earnings and move into more modern industries. The $3 billion commitment might lead to long-term capital gains and strengthens the company’s position as a major investor in innovations that change the game.
This investment shows that Humain believes in transformational AI and our ability to put real money behind great opportunities where long-term vision, technical excellence, and execution come together,” said CEO Tareq Amin. “xAI’s trajectory, which was further strengthened by its acquisition by SpaceX, one of the largest technology mergers on record, represents the kind of high-impact platform we want to support with significant capital.
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