Saudi Arabia's artificial intelligence company, Humain, has invested $3 billion in Elon Musk's xAI. This significant minority stake was acquired during xAI's Series E funding round, preceding its acquisition by SpaceX.
The investment underscores Saudi Arabia's ambition to expand its AI capabilities, aiming to meet the escalating demand for compute power and diversify its economy beyond oil.
This funding follows a November partnership where Humain and xAI agreed to jointly develop 500 megawatts of AI data center infrastructure. Earlier this year, xAI announced it had raised $20 billion in its Series E round to accelerate model deployment and infrastructure development.