Who is betting on what in AI, and against whom.
Video models with a Saudi-funded 2 GW cluster.
Luma started in 3D capture, became a video-generation company (Dream Machine, Ray), and now calls its models world models. Saudi Arabia's HUMAIN led its $900M Series C in November 2025 and is building it a two-gigawatt training cluster.
| Amount | Kind | Valuation | Date | Investors | Source |
|---|---|---|---|---|---|
| $43M | Series B | Jan 2024 | Andreessen Horowitz | TechCrunch | |
| $900M | Series C | $4B reported | Nov 2025 | HUMAIN, AMD Ventures, Andreessen Horowitz, Amplify Partners, Matrix Partners Valuation reported as upwards of $4B. | CNBC |