– Saudi Arabia’s Prince Alwaleed Bin Talal and Kingdom Holding Company (KHC) have increased their investment in Elon Musk by backing his AI start-up, xAI, which focuses on accelerating human scientific discovery through advanced AI technologies.

– Key investors in xAI include KHC, its chairman, and the Public Investment Fund, which bought a $1.05 billion stake in KHC in 2022; KHC also holds a significant stake in Musk’s X (formerly Twitter), valued at $1.89 billion as of October 2022.

– Following the latest funding round, xAI is now valued at $24 billion, with other notable investors including Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, and Fidelity Management & Research Company, aiming to launch new products, build advanced infrastructure, and accelerate R&D for future technologies.

Saudi Arabia’s Prince Alwaleed Bin Talal and Kingdom Holding Company (KHC) have increased their investment in Elon Musk by backing his start-up, xAI.

xAI is dedicated to developing artificial intelligence to accelerate human scientific discovery, aiming to enhance the collective understanding of the universe.

According to a blog post on the official xAI website, key investors include KHC’s chairman and the company itself, listed on the Saudi stock exchange (Tadawul) and supported by the Public Investment Fund, which acquired a $1.05 billion stake in KHC in 2022.

KHC also holds a significant stake in Musk’s X, valued at $1.89 billion as of October 2022, following the rebranding from Twitter.

xAI, focused on advanced AI systems, is now valued at $24 billion after the latest funding round. Other investors include Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, and Fidelity Management & Research Company.

The new funds will be used to launch xAI’s first products, build advanced infrastructure, and accelerate R&D for future technologies.