[DigitalToday reporter Chi-gyu Hwang] AI startup xAI led by Elon Musk has raised $20 billion in funding.
xAI raised $20 billion, exceeding its initial target of $15 billion, CNBC reported on Monday local time.
Investors include Nvidia, Cisco Investments, Fidelity, the Qatar Investment Authority (QIA), Abu Dhabi's MGX, Valor Equity Partners, StepStone Group and Baron Capital Group. Nvidia and Cisco are also working with xAI as strategic partners.
CNBC projected the funding would value xAI at about $230 billion.
Valuations of major AI startups continue to climb. Earlier, OpenAI raised funding at a valuation of $500 billion, and Anthropic did so at $350 billion.
After acquiring Twitter, Musk rebranded it as social media platform X and is strengthening its AI strategy by merging it with xAI.
Chi-gyu Hwang
delight@d-today.co.kr