Riyadh (Saudi Arabia) (AFP) - Humane, the Saudi state-backed artificial intelligence company, announced on Wednesday that it has invested three billion dollars in American billionaire Elon Musk's company, XAI.
Published on: 02/18/2026 - 19:25
The company stated in a statement that it had become "under this deal, a major minority shareholder in the company, as its stake in XAI was converted into shares in SpaceX."
SpaceX announced earlier this month its acquisition of the emerging artificial intelligence company as Musk seeks to consolidate his many business interests.
Humane, backed by Saudi Arabia's nearly $1 trillion sovereign wealth fund, was launched last May at a time when the world's largest oil exporter is betting on artificial intelligence to diversify its economy.
XAI previously announced in November that it would cooperate with Humane to build a data center in Saudi Arabia with a capacity of 500 megawatts.
The Saudi company also concluded a new agreement with NVIDIA this month, while American officials paved the way for the sale of advanced microelectronic chips to the Gulf Kingdom.
The decline in oil prices and demand for crude forced Riyadh to reconsider the mega projects within the reform “Vision 2030” led by Crown Prince Mohammed bin Salman.
Several sources reported to AFP on Friday that the Kingdom had reduced the size of its ambitious luxury tourism project, which included building dozens of resorts on the Red Sea coast, costing billions of dollars, by 2030.
The future city of NEOM in the north of the Kingdom also faced fundamental problems.
Meanwhile, XAI faces growing concerns and regulatory scrutiny over the misuse of artificial intelligence, including the spread of misinformation and sexualized images of children.
The recent launch of an editing feature in the “Grok” application, developed by “XAI” and integrated into the “X” platform, allowed users to edit photos of real people online using simple text commands.
© 2026 AFP
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