SpaceX to IPO June 12 with Gulf funds pledging billions
SpaceX is about to go public, and big players from Saudi Arabia, Kuwait, and Qatar are jumping in with massive investments: think $1 billion to $5 billion each from Saudi and Kuwait alone.
Qatar's $580-billion fund is also likely joining the action.
The IPO is offering more than 500 million shares at $135 each, aiming to raise $75 billion when trading kicks off on June 12.
Gulf investors pour billions into AI
It's not just rockets: these Gulf investors are also putting serious money into artificial intelligence.
Saudi-backed Humain dropped $3 billion into xAI earlier this year, while Abu Dhabi's MGX has stakes in Anthropic, OpenAI and xAI, while Qatar's QIA has stakes in Anthropic and xAI.
Even with regional tensions simmering, the Gulf is doubling down on future tech, and if all goes well, SpaceX could top even Saudi Aramco as the biggest IPO ever.