LUMA AI RAISES $900 MILLION FROM SAUDI-BACKED HUMAIN

Summary from the TLDR Design newsletter

Luma AI has secured $900 million in funding, led by Saudi-backed HUMAIN, bringing total funding to over $1 billion at a reported $4 billion valuation. The startup, known for Dream Machine and the Ray model, will use the capital to advance large-scale World Models and become one of the first customers of HUMAIN's two-gigawatt Project Halo supercluster in Saudi Arabia. Additional investors include AMD, Amazon, Andreessen Horowitz, Amplify Partners, and Matrix Partners. The funding was announced during Saudi Crown Prince Mohammad bin Salman's US state visit.