Musk’s xAI said to raise $15 billion in latest funding round

Investing.com -- Elon Musk’s artificial intelligence company xAI has secured $15 billion in funding from investors, according to CNBC David Faber’s report on Thursday, citing three people familiar with the matter.

The latest funding represents an increase of $5 billion from the previously reported $10 billion round in September, which valued the AI startup at $200 billion.

The report indicated that a substantial portion of the newly raised capital will be allocated toward purchasing graphic processing units (GPUs), which are essential components for powering large language models that form the foundation of advanced AI systems.

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