Riyadh - Sharikat Mubasher: Saudi Arabia emerged as a key investor in tech billionaire Elon Musk’s startup xAI as Kingdom Holding Company and Prince Alwaleed Bin Talal participated in xAI’s recent $6 billion Series B among other investors.

In a statement, xAI stated that it will dedicate the proceeds to launch its first products, build advanced infrastructure, and expedite the research and development of future technologies.

Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, and Fidelity Management and Research Company participated in the Serie B round.

xAI focuses on developing advanced artificial intelligence (AI) systems that are truthful, competent, and maximally beneficial for all of humanity.

 “xAI will continue on this steep trajectory of progress over the coming months, with multiple exciting technology updates and products soon to be announced,” the statement added.