Elon Musk’s artificial intelligence company xAI completed a $20 billion Series E funding round, surpassing its $15 billion goal.
The company behind the Grok language model said on Tuesday that investors in the funding round included Qatar Investment Authority, Valor Equity Partners, Stepstone Group, MGX and Baron Capital Group, and Fidelity Management & Research Company.
xAI also listed Nvidia and Cisco Investments as strategic investors in the round.
Musk congratulated the xAI team and thanked investors “for their trust in our company” in a post on X this afternoon. OX, which Musk purchased in 2022, was acquired by xAI in March.
The Wall Street Journal reported in November that the company was in talks to raise $15 billion in new capital at a valuation of $240 billion. xAI did not say what the company’s valuation was in this round of financing.
