Elon Musk’s xAI receives another $6B in funding as Grok app looms

Elon Musk's AI company, xAI, raised another $6 billion in funding, TechCrunch reported via the U.S. Securities and Exchange Commission.

The filing reports that each investor, of nearly 100, had to give a minimum of $77,593. The investors were not named in the filing, but X wrote in a press release that key investors included "A16Z, Blackrock, Fidelity Management & Research Company, Kingdom Holdings, Lightspeed, MGX, Morgan Stanley, OIA, QIA, Sequoia Capital, Valor Equity Partners, and Vy Capital, amongst others."

"xAI’s most powerful model yet, Grok 3, is currently training and we are now focused on launching innovative new consumer and enterprise products that will leverage the power of Grok, Colossus, and X to transform the way we live, work, and play," the press release stated. "The funds from this financing round will be used to further accelerate our advanced infrastructure, ship groundbreaking products that will be used by billions of people, and accelerate the research and development of future technologies enabling the company’s mission to understand the true nature of the universe."

Tech Crunch reported that this doubles xAI's total raised funds and brings it to $12 billion. According to CNBC, xAI was aiming for a $50 billion valuation in November. Forbes reported on Monday that the valuation has reached over $40 billion since the $6 billion funding bump.