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MUSK’S XAI WRAPS UP $6 BILLION IN FUNDING IN LATEST ROUND

 * Filing shows new money came from 97 different investors
 * XAI previously raised $6 billion from investors in May 2024

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Elon MuskPhotographer: Nathan Laine/Bloomberg
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By Kurt Wagner
December 5, 2024 at 11:43 PM GMT+1
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Elon Musk’s xAI has raised $6 billion in new capital, according to a regulatory
filing, wrapping up a funding round that has been in the works for months and
was said to value the artificial intelligence startup at more than $40 billion.

The equity financing came from 97 investors, and includes stakes as small as
$77,593, according to the filing with the US Securities and Exchange Commission
on Thursday. The company didn’t list the names of investors, nor did it include
a valuation or revenue. Bloomberg News reported in October that xAI was seeking
new funding at a $40 billion valuation, not including dollars raised.


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