Elon Musk’s xAI Secures $6 Billion in Series C Funding, Valued at Over $40 Billion
xAI, the artificial intelligence startup founded by Elon Musk, announced on Monday that it has raised $6 billion in a Series C funding round. Key participants included tech giants NVIDIA (NASDAQ:NVDA) and AMD (NASDAQ:AMD), along with major investors such as a16z, Kingdom Holdings (TADAWUL:4280), Sequoia, Morgan Stanley (NYSE:MS), and BlackRock (NYSE:BLK).
This funding round, which follows a $6 billion Series B earlier this year, brings xAI’s valuation to over $40 billion, according to multiple reports.
xAI plans to utilize the new capital to enhance its AI infrastructure and advance the development of its flagship Grok AI model, which aims to rival industry leaders like OpenAI.
Founded by Musk in March 2023, xAI is positioning itself as a key player in the rapidly evolving artificial intelligence sector.
