Saudi Arabia's Humain Invests $3 Billion in Elon Musk's xAI
Humain, Saudi Arabia's AI company, has invested $3 billion in Elon Musk's xAI, becoming a significant minority shareholder. This investment precedes Musk's announcement of merging xAI with SpaceX, creating a business valued at over $1 trillion. The deal positions Saudi Arabia as a stakeholder in a major US government contractor, enhancing its financial ties with Musk amid growing competition in AI development. Previous plans for a joint AI data center in Saudi Arabia were also noted.
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Saudi Arabia's Humain has invested $3 billion in Elon Musk's xAI, becoming a significant minority shareholder. The investment was made just before Musk announced the merger of xAI with SpaceX, resulting in a business valued at over $1 trillion.
This deal not only strengthens financial ties between Saudi Arabia and Musk but also gives the country a stake in a key US government contractor. Musk plans to launch an initial public offering for the merged company later this year. There are ongoing plans for a major AI data center to be built in Saudi Arabia in collaboration with Humain.
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