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.