Saudi’s Humain Backs AI Video Startup Luma at $4 Billion Value

Six months ago, Saudi Arabia unveiled a new artificial intelligence firm called Humain that promised to wield the kingdom’s immense resources and become a powerhouse investor in the AI sector. Now, Humain is officially disclosing its first startup investment.

The Saudi entity has led a $900 million financing round in Luma AI, an AI video generation startup based in California, the companies announced Wednesday. The venture unit of Advanced Micro Devices Inc. and Andreessen Horowitz also participated in the round, which values Luma at $4 billion.

Luma will also be the anchor customer for a large Humain data center ...