Overview
- Bloomberg, citing internal documents, reports a net loss of $1.46 billion for the quarter ended Sept. 30, up from about $1 billion in the first quarter.
- People familiar with the finances say monthly spending is just under $1 billion, with $7.8 billion in cash used during the first nine months of 2025.
- xAI generated $107 million in revenue in the September quarter, underscoring the gap between income and outlays.
- Earlier this week, the company said it closed a $20 billion Series E valuing it at $230 billion, with backers including Nvidia, Cisco Investments, Fidelity, Valor, Stepstone, Qatar Investment Authority, Abu Dhabi’s MGX and Baron Capital Group.
- Benzinga reports spending is concentrated on infrastructure, talent and software, and the company did not respond to a request for comment.