Overview
- The company said the round exceeded an earlier $15 billion target.
- Investors include Valor Equity Partners, StepStone Group, Fidelity, Qatar Investment Authority, Abu Dhabi’s MGX, Baron Capital Group, Nvidia and Cisco Investments.
- xAI plans to use the proceeds to build infrastructure, add data-center capacity, fund research and accelerate deployment of new AI products.
- Nvidia and Cisco joined as strategic backers who also supply hardware and networking to help xAI scale computing resources.
- When Reuters requested comment, xAI replied by email with the message, “Legacy Media Lies.”