Elon Musk’s Artificial Intelligence (AI) company xAI, has raised $6 billion in its latest Series C funding round, according to a filing with the U.S Securities and Exchange Commission.
The round saw participation from key investors including A16Z, Blackrock, Fidelity Management & Research Company, Kingdom Holdings, Lightspeed, MGX, Morgan Stanley, OIA, QIA, Sequoia Capital, Valor Equity Partners, and Vy Capital, amongst others. Strategic investors NVIDIA and AMD also participated and continue to support xAI in rapidly scaling our infrastructure.
This latest funding brings xAI’s total capital raised to $12 billion, following a prior $6 billion secured in May this year. In a blog post, xAI announced that the funds secured earlier this year will be used to take its first products to the market, build advanced infrastructure, and accelerate the research and development of future technologies.
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The company also announced plans to hire numerous roles of talented individuals to join a small team focused on making a meaningful impact on the future of humanity.
Since the announcement of the Series B in May 2024, xAI has made significant technical progress and shipped a multitude of key initiatives including:
- Colossus, xAI has established a decisive hardware advantage with the world’s largest AI supercomputer using an NVIDIA full-stack reference design with 100,000 NVIDIA Hopper GPUs. Compared to typical multi-year industry timeframes, Colossus was fully operational in 122 days and started running workloads just 19 days after the first servers were delivered. Soon, xAI will double the size of Colossus to a combined total of 200,000 NVIDIA Hopper GPUs, achieved by using the NVIDIA Spectrum-X Ethernet networking platform.
- Grok 2, xAI frontier language model with state-of-the-art reasoning capabilities
- xAI API gives developers programmatic access to our foundation models and is built on a new bespoke tech stack that allows multi-region inference deployments for low-latency access across the world.
- Aurora, xAI’s proprietary autoregressive image generation model for Grok enhances multimodal understanding, editing, and generation capabilities
- Grok on X, leveraging the X platform to understand what’s happening in the world in real-time. The company recently added new features enhancing the X experience like web search, citations, and its recent image generator, Aurora
With the recent Series C investments raised, xAI disclosed that the funds will be used to further accelerate its 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.
Recently, the company launched a standalone iOS app for its chatbot, Grok, expanding its usage. The app which was previously exclusive to X (formerly Twitter) users, is now available in beta version in Australia and other select regions, offering advanced generative AI capabilities.
Notably, xAI’s most powerful model yet, Grok 3, is currently training and the company is focused on launching innovative new consumer and enterprise products that will leverage the power of Grok, Colossus, and X to transform the way humans live, work, and play.
The $6 billion Series C round is a major vote of confidence from top-tier investors. This substantial capital injection will fuel xAI’s ambitious research and development efforts.