05:47 AM EDT, 09/22/2025 (MT Newswires) -- Faraday Future Intelligent Electric ( FFAI ) said Monday that it is investing $41 million in Qualigen Therapeutics ( QLGN ) , which is set to rebrand as CXC10 and start a crypto and web3-related business.

The company will invest about $30 million for about a 55% stake in Qualigen and Faraday co-Chief Executive Officer YT Jia will invest about $4 million for a 7% stake, according to the statement.

Faraday said it plans to "gradually" start assigning management teams for Qualigen, with Faraday Global President Jerry Wang expected to be appointed as co-Chief Executive Officer of the company.

Shares of Faraday Future Intelligent Electric ( FFAI ) were up more than 1% in recent premarket activity Monday.