KHC says xAI revaluation increases NAV by SAR 11.6B

The recent merger between xAI and SpaceX will likely result in raising Kingdom Holding Co.’s (KHC) net assets value (NAV) by SAR 11.6 billion, compared to its investment in xAI’s carrying value in the most recent interim financial statements.

In a statement to Tadawul, KHC said xAI has been revalued at $250 billion, while the estimated valuation of the merged entity is $1.25 trillion.

The positive impact will be recorded within the fair value reserve in other comprehensive income, KHC added.

According to data available on Argaam, US businessman Elon Mask recently announced a merger between xAI and SpaceX.