xAI

Series E round of $20 billion (upsized from initial $15B target). Investors include Valor Equity Partners, StepStone Group, Fidelity Management & Research Co., Qatar Investment Authority, MGX, Baron Capital Group, NVIDIA, Cisco Investments, and Tesla (~$2B subject to regulatory approvals). Strategic investors NVIDIA and Cisco participated to support GPU infrastructure scaling.

xAI raised $5 billion in debt (secured notes and term loans) via Morgan Stanley. The debt offering was oversubscribed and included prominent global debt investors. Proceeds intended for general corporate purposes, including AI infrastructure buildout and Grok platform development.

Alongside the $5B debt raise, xAI closed a separate $5 billion strategic equity investment, announced by Morgan Stanley on July 1, 2025. Subsequently, in September 2025 xAI raised an additional $10B+ equity round at a $200 billion valuation (investors: Valor Capital, Qatar Investment Authority, Kingdom Holding Co./Prince Al Waleed bin Talal), bringing total Series D-era equity to over $10B.

Series C round of $6 billion. Investors include A16Z, BlackRock, Fidelity Management & Research Company, Kingdom Holdings, Lightspeed, MGX, Morgan Stanley, OIA (Oman Investment Authority), QIA (Qatar Investment Authority), Sequoia Capital, Valor Equity Partners, Vy Capital, and strategic investors NVIDIA and AMD. Total funding exceeded $12 billion after this round.

Series B round of $6 billion at a $24 billion post-money valuation (pre-money was $18B per Musk). Investors include Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Co., Prince Alwaleed Bin Talal and Kingdom Holding, among others.

xAI disclosed a $134.7M raise in a December 2023 SEC filing, out of a targeted total of up to $1 billion. This was xAI's first outside funding round.