ECNETNews has learned that Elon Musk’s artificial intelligence company, xAI, has secured an impressive $6 billion in funding, as documented in a recent filing with the U.S. Securities and Exchange Commission.
The filing indicates that nearly 100 investors participated, each contributing a minimum of $77,593. Although the identities of the investors were not disclosed, a press release from the company highlighted significant backers, including notable investment firms.
xAI could release a standalone Grok app soon
“xAI’s latest and most powerful model, Grok 3, is currently in training, and our focus is on launching innovative consumer and enterprise products that utilize Grok, Colossus, and X technology to revolutionize how we live, work, and play,” the company stated in the release. “The funds from this financing round will enhance our advanced infrastructure, enable groundbreaking product launches for billions, and accelerate our research and development aimed at uncovering the universe’s true nature.”
In a noteworthy development, this latest funding round has effectively doubled xAI’s total capital raised, bringing the amount to $12 billion. Reports estimate that xAI is targeting a $50 billion valuation, with recent figures suggesting it has already surpassed a $40 billion valuation following this funding boost.
