Riyadh - Sharikat Mubasher: The Saudi Public Investment Fund (PIF) is in talks with the American aerospace and AI company, SpaceX, to acquire an anchor stake of nearly $5 billion in the company’s IPO.

This investment will partly prevent dilution of PIF’s existing stake of just under 1% in SpaceX, people familiar with the matter told Reuters.

Aiming to raise a record-breaking $75 billion, SpaceX has been lining up anchor investors well ahead of its stock market debut. Additionally, a significant portion of the allocation is expected to ⁠go to wealthy investors served by the underwriting banks.

In November 2025, PIF deepened its ties with Musk’s ventures when its AI firm HUMAIN partnered with xAI to build a new generation of low-cost, hyperscale GPU data centers in Saudi Arabia and deploy xAI’s Grok models across the country.

Under this partnership, both parties will develop a network of world-class GPU data centers, anchored by a flagship 500 MW+ facility, which is set to become one of the most advanced AI compute hubs globally.