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Alwaleed bin Talal increases his investments in Elon Musk's XAI with $400 million

Kingdom Holding Company, owned by Prince Alwaleed bin Talal, has increased its investments in the field of artificial intelligence by purchasing an additional stake in Elon Musk's X.AI company worth 1.5 billion Saudi riyals ($400) million).

The company explained in a statement via the Saudi Stock Exchange (Tadawul) website that this investment comes within the third financing round for XAI, and is a continuation of its previous investment of the same value in the second financing round held last May.

The company confirmed that this investment strengthens the strategic partnership between Kingdom Holding and Elon Musk, and is in line with its other strategic investments in his companies, such as X (formerly Twitter).

She explained that this investment comes as a continuation of the close relationship between Kingdom Holding Company and Elon Musk and his related companies, and is part of Kingdom Holding Company's business model to secure early stakes in emerging technologies and its ambition to lead and innovate in the artificial intelligence industry.

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