Saudi Arabia’s artificial intelligence company HUMAIN has acquired a significant minority stake in Elon Musk’s AI venture xAI, investing $3 billion in the company’s Series E funding round.
The investment was completed shortly before xAI’s acquisition by SpaceX, converting HUMAIN’s holdings into SpaceX shares. This positions the Saudi firm for potential long-term returns as SpaceX expands its AI and space technology capabilities.
“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,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.” said Tareq Amin, CEO of HUMAIN.
The Series E funding forms part of xAI’s broader $20 billion capital-raising strategy, aimed at scaling its AI platform to compete with leading firms such as OpenAI and Anthropic. HUMAIN’s involvement also supports domestic initiatives to expand AI compute infrastructure, including the development of over 500 megawatts of AI data center capacity in Saudi Arabia.
Experts note that the investment aligns with Saudi Arabia’s strategy to diversify its economy and strengthen its global AI footprint, leveraging sovereign capital to gain stakes in frontier technology companies.
