KHC acquires stake in xAI for SAR 1.5B

Kingdom Holding Co. (KHC) acquired a stake in xAI CORP. (xAI) for SAR 1.5 billion ($400 million), as part of xAI’s Series C funding round, according to a statement to Tadawul.

This followed KHC's previous investment at the same value in xAI during its Series B funding round. The financing was provided from the company’s internal resources.

The transaction further solidifies KHC's strategic partnership with Elon Musk, and follows its strategic stake in X (formerly Twitter) that KHC has held since 2015.