Saudi’s Kingdom Holding Acquires USD 400M Stake in Elon Musk’s xAI

Kingdom Holding Company (KHC) has announced a USD 400 million investment in xAI, an artificial intelligence company founded by Elon Musk. The stake was acquired through participation in xAI's Series C funding round, bringing the company’s valuation to USD 45 billion, a significant rise from USD 25 billion during its Series B funding.

This is KHC's second investment in xAI, mirroring its previous USD 400 million contribution. The funds were sourced internally, according to KHC’s filing with Saudi Arabia's Tadawul stock exchange.

xAI focuses on developing advanced AI models aimed at accelerating human scientific discovery. It plans to collaborate with Musk’s other ventures, including Tesla, SpaceX, and X, the social media platform with over 500 million users.

KHC also holds a longstanding partnership with Musk, which includes a stake in X (formerly Twitter) since 2015.