Riyadh – Mubasher: Saudi artificial intelligence company Humane has revealed plans to launch a $10 billion venture capital fund, alongside efforts to attract major US technology investors .

The company's CEO, Tarek Amin, explained that Humane is currently in talks with several prominent American companies, including Elon Musk's xAI , according to the Financial Times .

The new investment fund, called Humain Ventures , is scheduled to launch in the summer of 2025 and will focus on supporting startups in the United States, Europe, and parts of Asia .

Humane, a subsidiary of the Public Investment Fund, signed a series of strategic agreements with major American technology companies during the Saudi-US Investment Forum in Riyadh earlier this month.

The agreements included Humane signing a strategic partnership with NVIDIA to accelerate the future of artificial intelligence in the Kingdom, through investment in advanced GB300 Grace Blackwell chips.

Saudi Crown Prince Mohammed bin Salman previously announced the launch of Humane to spearhead the Kingdom's ambitions in the artificial intelligence solutions and technologies sector.