Elon Musk's xAI raises $20 billion
The Grok maker claims 600 million users. The money goes to data centres and new Grok models, as several countries investigate Grok.
On January 6, Elon Musk's xAI, maker of Grok and owner of X, announced it had raised $20 billion in a Series E round.
Who invested
- Valor Equity Partners, Fidelity and the Qatar Investment Authority
- Nvidia and Cisco as strategic investors
xAI did not say whether the money is equity or debt.
What for
xAI says the funds will expand its data centres and develop new Grok models. The company claims about 600 million monthly active users across X and Grok.
Bad timing
The news came as Grok faced criticism for generating sexualised deepfakes of real people. Authorities in the EU, UK, India, Malaysia and France are investigating xAI.
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