xAI, Elon Musk’s artificial intelligence (AI) company, has raised $20-billion to fund its bid to train the most intelligent chatbot – $5-billion more than it initially aimed to achieve.
This is believed to have pushed the company’s valuation to more than $230-billion.
xAI plans to use the funds to build new data centres to power its technology, and to fuel new research.
AI companies have been getting the lion’s share of investment in 2025, with about two-thirds of venture capital funding going to AI companies.
The new xAI investors include Fidelity, the Qatar Investment Authority, Valor Equity Partners and Nvidia.