Musk's xAI has completed a $20 billion Series E funding round, with Nvidia participating.

xAI announced the completion of its Series E funding round, raising $20 billion, exceeding the previously planned $15 billion. The company disclosed that investors in this round included Valor Equity Partners, StepStone Group, Fidelity Management & Research, the Qatar Investment Authority, MGX, and Baron Capital Group, with NVIDIA and Cisco participating as strategic investors. xAI stated that by 2025, it will achieve several advancements in computing power and products, including the construction of the Colossus I and II supercomputing centers, with a GPU scale exceeding 1 million H100 equivalent computing power; advancing Grok 4 series model training; and launching products such as Grok Voice and Grok Imagine, covering application scenarios such as voice, image, and video generation. The company disclosed that its product matrix currently covers approximately 600 million monthly active users across the X and Grok applications. According to the official statement, this round of financing will primarily be used to accelerate the construction of computing infrastructure, support the training of the next-generation Grok 5 model, and promote the continuous development of consumer and enterprise-level products. xAI also stated that it will continue to expand its team size to support subsequent R&D and product launches.