Saudi Arabia’s Humain Invests $3 Billion Into Elon Musk’s XAI

Shona Ghosh

Wed, February 18, 2026 at 9:35 PM GMT+9 1 min read

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Bloomberg

(Bloomberg) – Saudi-backed artificial intelligence company Humain has invested $3 billion into Elon Musk’s AI startup xAI, according to a statement on Wednesday.

Humain became a “significant minority shareholder” with the investment, which took place just prior to xAI’s acquisition by Musk’s space exploration company SpaceX, the company said in the statement. Its holdings will convert into SpaceX shares.

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The investment bolsters ties between Musk and the company, set up last year to turn the kingdom into an AI powerhouse. The two companies are set to develop a to develop a 500 megawatt data center in Saudi Arabia.

Humain, formed in May 2025 with backing from the Public Investment Fund, has been on a dealmaking spree to help the kingdom diversify its economy away from oil. Aside from the xAI tie-ups, it has invested in AI video-generation startup Luma AI and formed a joint venture with chipmaker Advanced Micro Devices Inc. and Cisco Systems Inc. to build up data center capacity in the country.

Musk’s SpaceX combined with xAI in a $1.25 trillion deal earlier in February.

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