Do Son 
After announcing the successful completion of its Series C funding round at the end of last year, securing $6 billion in capital, reports now indicate that Elon Musk’s artificial intelligence company, xAI, is in discussions for a new funding round, potentially aiming to raise as much as $20 billion.
Should this round conclude successfully, xAI’s market valuation is expected to surpass $120 billion, making this fundraising effort the second-largest in U.S. startup history, second only to OpenAI’s recent $40 billion capital raise.
Although the outcome of the funding discussions has yet to be finalized, it is anticipated that the financing will be completed within the coming months. The infusion of new capital would enable xAI to accelerate its advancements in artificial intelligence technologies, further integrate innovations into the “X” platform, and alleviate some of the platform’s existing debt burdens.
During the previous funding round, participants included A16Z, BlackRock, Fidelity Investments, Kingdom Holdings, Lightspeed, MGX, Morgan Stanley, OIA, Sequoia Capital, Valor Equity Partners, and Vy Capital. Notably, NVIDIA and AMD were also among the investors. It is expected that many of these firms will follow suit and participate in the upcoming round of investment in xAI.
