Saudi Arabian Public Investment Fund company HUMAIN invested $3 billion in Elon Musk-owned xAI. The capital injection was part of xAI’s previously announced Series E and makes HUMAIN a minority shareholder in the company.
HUMAIN specializes in providing full-stack AI capabilities to global companies. This investment builds on an existing partnership between HUMAIN and xAI under which the two plan to jointly develop over 500 megawatts of AI data center and compute infrastructure to deploy Grok in Saudi Arabia.
As this investment comes ahead of xAI’s merger with Musk’s aerospace company, HUMAIN’s holdings in xAI were converted into shares in SpaceX.
“This investment reflects HUMAIN’s conviction in transformational AI and our ability to deploy meaningful capital behind exceptional opportunities where long-term vision, technical excellence and execution converge,” Tareq Amin, HUMAIN’s CEO, said in a statement. “xAI’s trajectory, further strengthened by its acquisition by SpaceX, one of the largest technology mergers on record, represents the kind of high-impact platform we seek to support with significant capital.”
