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International Business Times UK

Niloy Chakrabarti

Elon Musk's xAI Raises £4.78B to Ramp up R&D Across His Firms as Revenues Near £79M Annually

XAI Elon Musk Grok Tesla Inc. SpaceX Nvidia BlackRock OpenAI SEC Twitter Inc.

xAI has raised £9.57 billion to date. (Credit: AFP News)

A recent US Securities and Exchange Commission (SEC) filing revealed that Elon Musk's AI company, xAI, raised £4.78 billion ($6 billion) from 97 investors in exchange for equity.

The funds will be used to expedite training its powerful AI model, Grok 3, alongside enhancing technology across SpaceX and Tesla.

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One subscription that gives you access to news from hundreds of sites

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