Elon Musk’s xAI Gets $3 Billion Investment From Saudi-Backed A.I. Firm

Humain, the Riyadh-based artificial intelligence company created last year by Crown Prince Mohammed bin Salman, said it had invested $3 billion in Elon Musk's xAI. The investment came just before Mr. Musk announced he had combined xAI with SpaceX, creating a business worth more than $1 trillion.

Humain said the stake made it a significant minority shareholder in xAI and that its holdings were converted into shares in SpaceX. The timing could produce a financial windfall if Mr. Musk proceeds with an initial public offering of the combined company later this year.

The deal gives Saudi Arabia a stake in a major American government contractor. SpaceX launches military and intelligence satellites and operates Starlink, the satellite internet network whose technology has been important for Ukraine's military defenses. Prince Mohammed created Humain to advance the kingdom's AI ambitions, serving as the company's chairman and backing it with state financial resources.

Saudi Arabia, Riyadh

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