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Saudi Prince Pumps $3B into Musk\u2019s Growing AI Empire – Moby <\/p>\n Saudi Prince Pumps $3B into Musk\u2019s Growing AI Empire – Moby <\/p>\n
Saudi Arabian AI company Humain announced a fresh $3 billion in funding for Elon Musk\u2019s xAI as part of the firm\u2019s Series E.<\/p>\n
Since Musk\u2019s other venture, SpaceX, decided to \u201cacquire\u201d xAI, the combined company is valued at a whopping $1.25 trillion. Humain itself is backed by Saudi Arabia\u2019s Public Investment Fund (PIF), and the Crown Prince Mohammed bin Salman himself.<\/p>\n
Because this latest round occurred before the merger’s closing, the investment was structured to be transferred to the parent company, meaning Humain now holds a minority stake in SpaceX. Estimates put Humain at .24%, recent xAI Investors (including Series E cohort) around 21.4%, early SpaceX Investors, including big names like Fidelity and Google, at 35.0%,. Musk himself remains at the top of the list, controlling 43.4% of the company.<\/p>\n
Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we’ll show you why it’s our #1 pick. Tap here.<\/a><\/p>\n \u201cTogether, these initiatives deepen long-term alignment and extend Humain\u2019s role from strategic partner to leading global shareholder in xAI,\u201d Humain said in a statement.<\/p>\n The \u201clong-term alignment\u201d is likely the Crown Prince’s desire to fulfill his country’s post-oil legitimacy and ensure energy isn\u2019t the only reason the Kingdom remain economically viable in the future. By the PIF\u2019s own numbers, the country is feeling pressure. The Kingdom\u2019s \u201cbreak-even\u201d point is about $94 per barrel, according to Bloomberg Economics. That climbs to $111 factoring in domestic spending. But brent crude futures are trading around $70 per barrel, which may put the Kingdom underwater.<\/p>\n So the Crown Prince needs Musk to stay relevant. And Musk needs the Crown prince for his money, which, of course, Saudi Arabia has plenty. So the partnership is mutual: Musk gets his runway to keep building. Saudi Arabia, bypassing OpenAI, gets to become a central node for a newly connected world.<\/p>\n