xAI, Elon Musk’s AI company, has raised $6 billion, according to a filing with the U.S. Securities and Exchange Commission on Thursday. Investor

Elon Musk’s xAI lands $6B in new cash to fuel AI ambitions

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2024-12-25 14:30:19

xAI, Elon Musk’s AI company, has raised $6 billion, according to a filing with the U.S. Securities and Exchange Commission on Thursday.

Investors gave a minimum of $77,593, per the filing (97 participated, but the document doesn’t reveal their identities). xAI later announced (confirming some earlier reporting) that Andreessen Horowitz , Blackrock, Fidelity, Kingdom Holdings, Lightspeed, MGX, Morgan Stanley, OIA, QIA, Sequoia Capital, Valor Equity Partners, Vy Capital, Nvidia, AMD, and others numbered among them.

The new cash brings xAI’s total raised to $12 billion, adding to the $6 billion tranche xAI raised this spring. CNBC reported in November that xAI was aiming for a $50 billion valuation — double its valuation of six months prior.

According to the Financial Times, only investors who’d backed xAI in its previous fundraising round were permitted to participate in this one. Reportedly, investors who helped finance Musk’s Twitter acquisition were given access to up to 25% of xAI’s shares.