Saudi Arabia's artificial intelligence firm Humain said Wednesday it had invested $3 billion in US billionaire Elon Musk's xAI.
The investment made Humain a "significant minority shareholder,” the company said in a statement.
It added that its xAI holdings would be "converted into SpaceX shares" after the rocket company announced it was taking over the AI start-up earlier this month as Musk pushes to unify his many business interests.
CEO Tareq Amin said the latest 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.”
Musk's xAI had previously announced in November it was teaming up with Humain to build a 500-megawatt data center in Saudi Arabia.
The Saudi firm also inked a new deal with Nvidia.
