In its most recent fundraising round, Elon Musk’s xAI raises $15 billion

Billionaire Elon Musk‘s company xAI raised $15 billion in a Series E funding round, CNBC reported Thursday, citing sources familiar with the matter.

This investment adds another $5 billion to the $10 billion raised in September, which valued the company at $200 billion, according to the report.

Musk said that the business was not raising money after CNBC’s September story.

In what seemed to be an automated answer, XAI referred to it as «mainstream media lies» when Reuters asked for comment regarding Thursday’s investment round.

In order to better compete with OpenAI’s ChatGPT and Anthropic’s Claude, the AI startup has been expanding the capacity of its data centers to train more sophisticated models.

According to the article, a significant portion of the funds raised will support graphics processing units that support massive language models.

Despite concerns of a bubble in the industry due to high valuations and ambitious investment plans, investor excitement for artificial intelligence startups has persisted.

By acquiring land in Memphis to construct its Colossus supercomputer, XAI is also making significant investments in growing its infrastructure.