Elon Musk’s company xAI has raised $15 billion in a Series E funding round, according to a CNBC report that cited people familiar with the deal. This new capital adds to the $10 billion raised in September, which valued the company at $200 billion.
After the September report, Musk publicly stated that xAI was not raising money. When asked for comment about the latest funding round, xAI responded with what appeared to be an automated message saying “Legacy Media Lies.”
The company has been rapidly expanding its data center capacity. The goal is to train more advanced AI models and better compete with OpenAI’s ChatGPT and Anthropic’s Claude. CNBC also reported that much of the new funding will go toward graphics processing units, which are essential for large language model development.
Investor interest in artificial intelligence remains strong. This continues even as concerns grow about an AI bubble driven by high valuations and large spending commitments.
xAI is also investing heavily in its physical infrastructure. The company is acquiring property in Memphis as part of its plan to build the Colossus supercomputer.
Musk did not immediately respond to a Reuters request for comment.
