(RTTNews) - HUMAIN, Saudi Arabia's Public Investment fund or PIF company, Wednesday announced that it is Investing $3 billion as part of its Series E funding in xAI, a company owned by SpaceX.
Consequent to the Series E transaction, HUMAIN becomes a significant minority shareholder in xAI, with its holdings subsequently converted into shares in SpaceX. HUMAIN's participation in the Series E round reinforces its role as a scaled, long-term strategic investor capable of supporting companies across multiple stages of growth, while delivering full-stack AI capabilities across four core areas: next-generation data centers; high-performance infrastructure and cloud platforms; advanced AI models; and transformative AI solutions, the company said in a statement.
This investment builds on large-scale partnership announced in November 2025 at the U.S.-Saudi Investment Forum, where both companies committed to jointly develop more than 500MW of next-generation AI data center and compute infrastructure and to deploy xAI's Grok models in Saudi Arabia.
In pre-market activity, shares of TSLA owned by SpaceX founder Elon Musk, were trading at $410.87, up 0.07% on the Nasdaq.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
