Elon Musk’s xAI said it raised $20 billion in a funding round, exceeding its prior target of $15 billion.
CNBC reported in November that a financing round would value the artificial intelligence startup at about $230 billion.
Investors included Nvidia and Cisco Investments as well as long-time Musk company backers Valor Equity Partners, Stepstone Group, Fidelity Management & Research Company, Qatar Investment Authority, MGX and Baron Capital Group.
https://www.cnbc.com/2026/01/06/elon-musk-xai-raises-20-billion-from-nvidia-cisco-investors.html