xAI Raises $20B

Benzinga

xAI raised $20 billion in fresh funding, valuing the company at roughly $230 billion as it expands AI infrastructure, data centers, and strategic partnerships, according to CNBC.

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00:00It's Benzinga, bringing Wall Street to Main Street

00:02Elon Musk's XAI said it raised $20 billion in a funding round,

00:06exceeding its prior target of $15 billion, according to CNBC.

00:11CNBC reported in November that the financing would value the artificial intelligence startup

00:16at about $230 billion. After an initial report said XAI was raising $15 billion,

00:23Musk called the story false in a post on X. Investors included NVIDIA, Cisco Investments,

00:28Valor Equity Partners, Stepstone Group, Fidelity, Qatar Investment Authority, Abu Dhabi's MGX,

00:34and Barron Capital Group. NVIDIA and Cisco also work with XAI as vendors and strategic partners.

00:40XAI merged with X, formerly Twitter, in March and now owns and operates the social network.

00:46The company faces regulatory probes in Europe, India, and Malaysia tied to Grok content issues.

00:52XAI is building data centers in Memphis, Tennessee, and recently secured a Department of Defense deal

00:58adding Grok to its AI agents platform. For all things money, visit Benzinga.com.

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