Odaily Planet Daily reports: Humain, an AI company backed by Saudi Arabia, has invested $3 billion in Elon Musk’s AI startup xAI. The statement revealed that Humain has become a “significant minority shareholder” in xAI, just prior to Musk’s space exploration company SpaceX acquiring xAI. Humain’s shares will be converted into SpaceX shares. This investment strengthens the ties between Musk and Humain. Founded last year, Humain aims to position Saudi Arabia as a global leader in artificial intelligence. The two companies plan to develop a 500-megawatt data center in Saudi Arabia. (Jinshi)
Saudi Arabia’s Humain Invests $3 Billion in xAI Ahead of SpaceX Acquisition
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Summary
The Saudi Arabia-backed AI firm Humain has invested $3 billion in Elon Musk’s xAI, establishing itself as a major minority stakeholder. The investment will convert into SpaceX shares following the acquisition. Humain, launched last year to enhance Saudi Arabia’s presence in AI, will co-develop a 500-megawatt data center within the kingdom. AI and crypto news continues to underscore significant cross-border transactions. Recent inflation data has not diminished investor demand for high-growth tech assets.
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