Elon Musk’s artificial intelligence startup, xAI, has raised $15 billion in a Series E funding round, according to sources cited by CNBC on Thursday.
The latest raise adds $5 billion to an earlier $10 billion round reported in September, bringing xAI’s total valuation to approximately $200 billion.
The funding is reportedly expected to be used primarily for the acquisition of high-performance graphic processing units (GPUs) that support the training of large language models.
The capital will also support xAI’s expansion of data center capacity and infrastructure projects, including the construction of its Colossus supercomputer in Memphis, Tennessee.
Despite the reports, Musk had previously indicated that the company was not raising additional capital. Musk did not immediately respond to requests for comment.
xAI, founded in 2023 and known for its Grok AI chatbot integrated with X (formerly Twitter), is competing with other major AI firms, including OpenAI and Anthropic, in the development of advanced foundational AI models.