Boeing in talks with Riyadh Air for a ‘large number’ of narrowbody aircraft

Brendan Nelson, senior vice president of Boeing Global, expressed his company’s desire to work closely with the Kingdom to help the country achieve its tourism goals outlined in Vision 2030 (AN)
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Updated 21 June 2023
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Boeing in talks with Riyadh Air for a ‘large number’ of narrowbody aircraft

RIYADH: American aerospace firm Boeing is in talks with Saudi Arabia’s newly launched Riyadh Air for the possible purchase of narrowbody aircraft, a top official told Arab News on Tuesday.

Brendan Nelson, senior vice president of Boeing Global, expressed his company’s desire to work closely with the Kingdom to help the country achieve its tourism goals outlined in Vision 2030.

In an interview with Arab News on the sidelines of the Paris Air Show, Nelson said the American aircraft manufacturer is investing in Saudi Arabia to support its fast-developing aerospace sector.

“We’re in negotiations with the airline (Riyadh Air) in relation to a possible purchase of a large number of, what we call narrowbody aircraft, the 737 MAX family. And we’re very proud of this aircraft,” said Nelson.

According to the official, Boeing received 1,700 orders globally for 737 MAX over the past 36 months, and the company has already delivered 800 aircraft during the same period.




A Riyadh Air Boeing 787-9 Dreamliner is displayed at the Paris Air Show in Le Bourget, north of Paris on Tuesday. (AP)

He thanked Saudi Arabia for receiving an order of 121 Boeing 787 aircraft for Riyadh Air and Saudia.

“I have had meetings, along with other senior Boeing officials with the (Saudi) minister for transport, president of the General Authority Of Civil Aviation, and also the minister of investment. We discussed a range of joint initiatives and investments and the significance of the deals recently done with Riyadh Air and Saudia,” said Nelson.

He added: “Our vision is to connect, protect and explore the world and beyond and to connect people and families to one another.”

The official said the company seeks to introduce and connect Saudi culture with the rest of the world.

According to Nelson, Saudi Arabia’s tourism goals outlined in Vision 2030 can be materialized only with the availability of “reliable, high-quality and comfortable airplanes for people to travel.”

Saudi Arabia’s National Tourism Strategy aims to attract 100 million visitors by 2030, along with increasing the contribution of the tourism sector to gross domestic product to over 10 percent.

“We’re also exploring aerospace, metals, titanium, aluminum, chemicals, advanced plastics manufacture and components for aircraft and to help Saudi Arabia build an aviation ecosystem not only for today but more importantly for the future,” he said.

Nelson said that Saudi Arabia’s unique geographical location will play a crucial role in catalyzing its efforts to emerge as a sought-after tourism destination.

“So for us (it is important), not only working with the airlines but also (with) the leadership of the Kingdom of Saudi Arabia to provide aircraft that are modern, that are reliable and are able to take people long distances. From Riyadh, within eight hours flight, you’ve got 80 percent of the world’s population or 70 percent of the economic growth over the next decade will be within eigh hours flight of Riyadh,” he added.

Nelson further pointed out that Boeing has always been supportive of the localization efforts the Kingdom is making in different sectors, particularly in aerospace and defense. The official said the company currently employs more than 2,200 people in the Kingdom, with a majority of them being Saudis.


PIF’s Humain invests $3bn in Elon Musk’s xAI prior to SpaceX acquisition

Updated 18 February 2026
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PIF’s Humain invests $3bn in Elon Musk’s xAI prior to SpaceX acquisition

JEDDAH: Humain, an artificial intelligence company owned by Saudi Arabia’s Public Investment Fund, invested $3 billion in Elon Musk’s xAI shortly before the startup was acquired by SpaceX.

As part of xAI’s Series E round, Humain acquired a significant minority stake in the company, which was subsequently converted into shares of SpaceX, according to a press release.

The transaction reflects PIF’s broader push to position Saudi Arabia as a central hub in the global AI ecosystem, as part of its Vision 2030 diversification strategy.

Through Humain, the fund is seeking to combine capital deployment with infrastructure buildout, partnerships with leading technology firms, and domestic capacity development to reduce reliance on oil revenues and expand into advanced industries.

The $3 billion commitment offers potential for long-term capital gains while reinforcing the company’s role as a strategic, scaled investor in transformative technologies.

CEO Tareq Amin said: “This investment reflects Humain’s conviction in transformational AI and our ability to deploy meaningful capital behind exceptional opportunities where long-term vision, technical excellence, and execution converge, xAI’s trajectory, further strengthened by its acquisition by SpaceX, one of the largest technology mergers on record, represents the kind of high-impact platform we seek to support with significant capital.” 

The deal builds on a large-scale collaboration announced in November at the US-Saudi Investment Forum, where Humain and xAI committed to developing over 500 megawatts of next-generation AI data center and computing infrastructure, alongside deploying xAI’s “Grok” models in the Kingdom.

In a post on his X handle, Amin said: “I’m proud to share that Humain has invested $3 billion into xAI’s Series E round, just prior to its historic acquisition by SpaceX. Through this transaction, Humain became a significant minority shareholder in xAI.”

He added: “The investment builds on our previously announced 500MW AI infrastructure partnership with xAI in Saudi Arabia, reinforcing Humain’s role as both a strategic development partner and a scaled global investor in frontier AI.”

He noted that xAI’s trajectory, further strengthened by SpaceX’s acquisition, exemplifies the high-impact platforms Humain aims to support through strategic investments.

Earlier in February, SpaceX completed the acquisition of xAI, reflecting Elon Musk’s strategy to integrate AI with space exploration.

The combined entity, valued at $1.25 trillion, aims to build a vertically integrated innovation ecosystem spanning AI, space launch technology, and satellite internet, as well as direct-to-device communications and real-time information platforms, according to Bloomberg.

Humain, founded in August, consolidates Saudi Arabia’s AI initiatives under a single entity. From the outset, its vision has extended beyond domestic markets, participating across the global AI value chain from infrastructure to applications.

The company represents a strategic initiative by PIF to diversify the Kingdom’s economy and reduce oil dependence by investing in knowledge-based and advanced technologies.