By Elias Schisgall
Humain, a Saudi Arabian artificial-intelligence company, invested $3 billion in Elon Musk's xAI shortly before its merger with SpaceX, giving it a substantial stake in the combined company ahead of an expected initial public offering later this year.
Humain, which has backing from the Saudi government, said Wednesday that it was a participant in xAI's $20 billion Series E funding round which ended last month. Its participation had not been previously disclosed.
Though xAI didn't say what the latest funding round valued the company at, Humain said its $3 billion investment made it a significant minority shareholder.
The subsequent merger between xAI and SpaceX, Musk's rocket company, valued the AI startup at around $250 billion, The Wall Street Journal reported. Humain said Wednesday that its shares in xAI were converted to SpaceX shares.
"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," Humain Chief Executive Tareq Amin said.
xAI and Humain announced a partnership in November to jointly develop more than 500 megawatts of data center and computing infrastructure and deploy Grok, xAI's family of large language models, in Saudi Arabia.
The previously disclosed investors in the Series E funding round included the Qatar Investment Authority, Nvidia, Fidelity Management & Research Company, and the investment arm of Cisco, which launched an AI partnership with Humain last year.
Tesla also agreed to invest $2 billion in xAI's Series E funding round last month.
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
February 18, 2026 10:11 ET (15:11 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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