Latham & Watkins Advises AMD in Luma AI’s US$900 Million Series C Financing and Strategic Partnership

Luma AI, the frontier artificial intelligence company building multimodal AGI, has announced that it has raised US$900 million in Series C funding, led by HUMAIN, a PIF company delivering global full-stack AI solutions, with significant participation from AMD Ventures, and existing investors Andreessen Horowitz, Amplify Partners, and Matrix Partners. To train and deploy next generation AI systems, Luma AI will become a customer of HUMAIN as HUMAIN builds Project Halo, a 2-gigawatt AI supercluster in Saudi Arabia, making it one of the world’s largest compute infrastructure buildouts. The companies also unveiled a joint roadmap to advance multimodal intelligence, including the development of World Models and participation in HUMAIN Create, an initiative focused on building AI models trained on Arabic and regional data.

Latham & Watkins LLP represented AMD in the transaction with a corporate deal team led by Bay Area partner Tad Freese and Orange County/Bay Area partner Nima Movahedi, with associates Christopher Siino and Chloe Wallace.