Saudi Public Investment Fund Backs Magic Leap With $205 Million
Summary
Magic Leap secured an additional $205 million from Saudi Arabia’s Public Investment Fund, bringing total PIF investment to $1 billion since 2022. The company has shifted from consumer AR headsets toward enterprise spatial computing and AI-driven solutions after weak demand for its early devices. The new capital should help Magic Leap build industry-specific XR tools and push more commercial deployments. The funding also reinforces Saudi Arabia’s broader push to grow its AI, cloud, and immersive technology capabilities.
Funding
Amount
$205.0M
Total raised
Date
October 18, 2025
Announcement date
Investors
Microsoft Accelerator - Tel Aviv, Public Investment Fund, Scientific Atlanta, DAMO Academy, AT&T CyberSecurity, Launchpad Accelerator
Lead investors
Company
https://www.magicleap.com
Funded company
Classifications
industries
No industries detected
applications
ERP & Process Management
AskAI Classifications
Labels
Augmented Reality
Software Development
Hardware and Software Integration
Linked Companies
Magic Leap
$100M to $250M