Musk's xAI Raises $6 Billion in Latest Funding Round

Elon Musk's artificial intelligence venture xAI has successfully raised $6 billion in a new funding round, according to a recent regulatory filing with the U.S. Securities and Exchange Commission. This round came to fruition after months of anticipation and negotiations.

The financing attracted a broad base of support, with 97 investors contributing to the round. Investment amounts varied, with the smallest recorded stake being $77,593. The details of the filing submitted on Thursday did not disclose the identities of the investors, nor did it provide specific information about the company's valuation or revenue figures.

Last October, according to reports from Bloomberg News, xAI was seeking new capital with a valuation target of $40 billion, which did not account for the funds raised at that time.

This latest financial injection follows a previous $6 billion funding round completed in May, which raised the company’s valuation to $24 billion, including the capital raised. The current valuation of xAI after this most recent funding round was not mentioned in the filing.