xAI Raises $20 Billion in Series E Funding
xAI announced that it has raised $20 billion in a Series E funding round, surpassing its previously stated target of $15 billion.
The investor lineup includes Qatar Investment Authority, NVIDIA, Cisco, Fidelity Investments, Valor Equity Partners, Stepstone Group, and MGX, among others.
The company operates a massive computing infrastructure featuring more than one million H100 GPUs, and runs what it describes as the most powerful AI supercomputers, Colossus I and Colossus II.
According to xAI, its products are currently used by over 600 million monthly active users. The newly raised capital will be deployed to expand infrastructure and accelerate the development of AI products for consumers and enterprises, including Grok, Grok Voice, and Grok Imagine.
It was previously reported that the funding round valued xAI at approximately $230 billion, amid a broader surge in AI startup valuations driven by unprecedented demand for foundational models.
