Saudi's Humain invested $3 billion in xAI's Series E funding round

Saudi Arabia's Humain, the kingdom's artificial intelligence company, said on Wednesday it had invested $3 billion in Elon Musk's xAI as a part of its Series E funding round just prior ‌to ⁠its acquisition ⁠by SpaceX.

The investment made Humain a "significant" minority shareholder, with its xAI holdings converted into SpaceX shares, it said.

Saudi Arabia is boosting its artificial intelligence ambitions as it seeks to capitalize on the growing ⁠demand for ‌compute capacity and diversify revenue sources away from oil.


The investment builds ⁠on the partnership announced between Humain and xAI in November at the U.S.-Saudi Investment Forum where both firms said they would jointly develop 500 megawatts of AI data center infrastructure.

In January, xAI said it raised $20 billion in ‌an upsized Series E funding round as the company ramps up deployment of new models ⁠and infrastructure to get ahead of competitors OpenAI and Anthropic.

A month after the fundraise announcement, Musk's SpaceX acquired xAI in a massive consolidation move that combines the billionaire's artificial intelligence startup with his space and rocket firm.