Elon Musk’s xAI raises US$15 billion in latest funding round, CNBC reports
xAI, in what seemed like an automated reply, said “Legacy Media Lies” in response to a Reuters request for comment on Thursday’s raise
Billionaire Elon Musk’s xAI has raised US$15 billion in a series E funding round, CNBC reported on Thursday (Nov 13), citing sources familiar with the matter.
The capital adds another US$5 billion to the US$10 billion round it raised in September that valued it at US$200 billion, the report said.
Following CNBC’s September report, Musk said the company was not raising any capital.
xAI, in what seemed like an automated reply, said “Legacy Media Lies” in response to a Reuters request for comment on Thursday’s raise.
The AI startup has been ramping up its data centre capacity to train more advanced models, as it looks to compete more effectively with OpenAI’s ChatGPT and Anthropic’s Claude.
A lot of the money raised will fund graphic processing units that underpin large language models, the report said.
Investor enthusiasm in artificial intelligence firms has remained strong even as fears of an AI bubble emerge due to sky high valuations and massive spending plans.
xAI is also investing heavily to expand its own infrastructure by buying property in the Memphis to build out its planned Colossus supercomputer.
Elon Musk did not immediately respond to a Reuters request for comment. REUTERS
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