In total, 97 investors were involved in this round of funding, with the minimum investment per participant pegged at $77,593. Investors were only allowed to participate

Nvidia and AMD’s participation in xAI’s funding round means they are directly financing a rival to their major customers.

Elon Musks xAI has closed a $6 billion funding round powered by NVIDIA and AMD investments. The funding will scale AI supercomputers, train Grok 3, and support the launch of innovative consumer and enterprise products.

A lot of compute is needed,” Mr. Musk said in a post about the financing, in which BlackRock, Fidelity and Sequoia participated.

The filing also revealed that xAI is now valued at $45 billion, close to double its previous valuation. The new cash brings xAI’s total raised to $12 billion, adding to the $6 billion tranche xAI raised in May.

Elon Musk's xAI has raised $6 billion in its latest funding round, pushing its total capital raised to $12 billion at a valuation of $50 billion, reports TechCrunch. The round, which involved 97 investors,

Elon Musk’s artificial intelligence startup xAI revealed that it raised $6 billion in its latest funding round as the startup continues to ramp up in its battle against bitter rival OpenAI. Musk took a victory lap after announcing Monday on his social media platform X that the company concluded its Series C funding round — which is usually the final stage of venture capital financing.