Elon Musk's AI company, xAI, announced on December 23 that it has raised $6 billion in a Series C funding round. Prominent investors include BlackRock, Nvidia, AMD, Fidelity, Sequoia Capital, and Andreessen Horowitz, among others. The funds will be used to scale AI infrastructure and accelerate research and development initiatives, according to the company's official blog post.

This marks xAI's second funding round in 2024, following a $6 billion Series B round in May, which was supported by investors such as Andreessen Horowitz and Sequoia Capital.

“We have successfully closed our Series C round with participation from leading investors like BlackRock, Fidelity, Kingdom Holdings, Lightspeed, Morgan Stanley, and strategic backers Nvidia and AMD. This funding will enable us to rapidly expand our infrastructure and support our mission to advance AI technology,” xAI stated.

The company plans to allocate the funds toward building advanced AI infrastructure, launching groundbreaking products, and driving R&D efforts to achieve its mission of understanding the universe's true nature.

Since its Series B round, xAI has made significant strides, including the launch of Colossus, the world's largest AI supercomputer powered by Nvidia chips. Other key initiatives include Grok 2, the second iteration of its language model; the xAI API, which offers developers access to foundational AI models; Aurora, an image-generation model; and the integration of Grok into the social media platform X.

Looking ahead, xAI is training its next-generation model, Grok 3, and developing innovative consumer and enterprise products that will leverage the power of Grok, Colossus, and X to transform daily life and business operations.