xAI Close to Finalizing $15 Billion Funding Round

xAI plans to finalize a $15 billion funding round in December, which could lead to a $230 billion pre-money valuation. The deadline for the funding raise was 25 November, with a closing date of 19 December.

Elon Musk-owned xAI will use a large chunk of it for GPUs to power its large language models. According to media reports, in November, xAI was seeking to raise $15 billion, which Musk stated on X was false.

In July, xAI apologised after its Grok chatbot reportedly made a series of extreme comments, which it blamed on deprecated code. In March, Musk’s xAI acquired his social media platform X in a $45 billion all-stock transaction. Companies such as Amazon, Meta, Microsoft, Anthropic, and OpenAI have raised billions of dollars to build out their AI infrastructure and add more computing capabilities.