Elon Musk's xAI confirms purchase of five 380 MW natural gas turbines from Doosan Enerbility to power massive AI supercomputing expansion in 2026.

Elon Musk’s xAI has raised $20 billion to help fund its data center build-out. The startup, developer of the Grok chatbot, has pocketed the cash in an oversubscribed Series E funding round. Previous reports had suggested it was hoping to raise $15bn at a valuation of $230bn.

Elon Musk's xAI had planned for the financing to be split between about $7.5 billion of equity and as much as $12.5 billion of debt in a special purpose vehicle, according to a Bloomberg report.

Elon Musk’s AI startup xAI has completed a blockbuster fundraising effort, pulling in $20 billion in a Series E funding round.

Elon Musk’s xAI finalized its $20 billion Series E funding round on Wednesday, with major investors including Nvidia and Cisco Investments. The firm stated that the funding round exceeded the $15 billion it had previously targeted as investors poured millions of dollars into the initiative.

Elon Musk's xAI raises $20 billion in a new funding round despite the AI company's chatbot Grok under severe scrutiny.

XAI, which did not specify individual investment amounts or break out debt or equity portions of the round, said investors also include Stepstone Group, Fidelity Management & Research Co., MGX and Baron Capital Group.

Elon Musk is very optimismi about AI + robotics leading to an age of extreme abundance. He sees a Star Trek future and not Terminator.

Business titans from Elon Musk to Bill Gates made bold predictions that the workweek will soon be reduced to four days—or shorter.