xAI raises $20B in upsized Series E funding round

xAI completed its upsized Series E funding round, exceeding the $15B targeted round size, and raised $20B, the company founded by Telsa CEO Elon Musk announced. “Investors participating in the round include Valor Equity Partners, Stepstone Group, Fidelity Management & Research Company, Qatar Investment Authority, MGX and Baron Capital Group, amongst other key partners. Strategic investors in the round include NVIDIA and Cisco Investments, who continue to support xAI in rapidly scaling our compute infrastructure and buildout of the largest GPU clusters in the world,” xAI stated.