Wednesday, June 19, 2024
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Lucid Group secures $1.5 billion in funding, with majority shareholder Saudi Arabia Public Investment Fund contributing $915 million.

The investment solidifies the Fund’s stake in Lucid at 62%, as the company’s value continues to soar to an estimated $620 billion. The funding also reflects Saudi Arabia’s ongoing efforts to diversify its investments beyond fossil fuels, including in video games, sports teams, and major infrastructure projects.

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