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Kingdom Holding Company Announces Update on Its Investment in xAI
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| Announcement Detail | Kingdom Holding Company (“the Company”) announces to its shareholders the expected financial impact arising from its investment in xAI (one of the Company’s portfolio investments), following the recent merger between xAI and SpaceX. As a result of this transaction, xAI has been revalued at USD 250 billion, while the estimated valuation of the merged entity is USD 1.25 trillion. Based on the available information, the Company estimates that marking the investment in xAI’s value to the levels indicated by the merger would have a positive impact on the fair value reserve for investment at FVOCI and an increase in the Company’s net assets of SAR 11.6 billion, compared to the investment in xAI’s carrying value in the most recent interim financial statements. This investment demonstrates Kingdom Holding Company’s ability to identify and secure high-quality opportunities and to participate in strategic transactions and partnerships. It is underpinned by the Company’s deep investment expertise, strong international relationships, and established global market presence, and is expected to enhance the long-term value and resilience of its investment portfolio. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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