Saudi Arabia’s Humain Invests $3 Billion Into Musk’s xAI (2)

Saudi Arabian artificial intelligence company Humain has invested $3 billion into Elon Musk’s xAI, deepening ties between the world’s richest man and the kingdom as it pushes to become a global AI powerhouse.

The investment, announced Wednesday was part of xAI’s $20 billion funding round, which completed shortly before the startup’s acquisition by Musk’s space exploration company, SpaceX. With the deal, Humain said it became a “significant minority shareholder” in xAI. Its holdings will convert into SpaceX shares — a roughly 0.24% ownership in the new, combined $1.25 trillion company, according to Bloomberg estimates.

The deal strengthens ...