xAI lands $20B funding round supported by Nvidia and Cisco

Elon Musk’s xAI finalized its $20 billion Series E funding round on Wednesday, with major investors including Nvidia and Cisco Investments. The firm stated that the funding round exceeded the $15 billion it had previously targeted as investors poured millions of dollars into the initiative. Several investors also participated in the initiative, including Valor Equity Partners, Fidelity Management & Research Company, Stepstone Group, Baron Capital Group, Qatar Investment Authority, MGX, and others. xAI said its investors continue to support the firm in advancing its compute infrastructure, which aims to build the largest GPU globally. xAI seeks to enable rapid development and deployment of its AI products Musk on Tuesday congratulated the xAI team on its latest feat, and also thanked investors for trusting in his company. He added that the firm is seeking to recruit AI Finance Tutors to train Grok. xAI also revealed that it’s planning to hire mission-oriented...

https://www.cryptopolitan.com/xai-secures-20-billion-as-nvidia/