Elon Musk’s AI company, xAI, has raised $10 billion from investors that puts the company’s post-money valuation at $200 billion, sources told CNBC’s David Faber.
The fundraising comes weeks after Musk raised $10 billion in debt and equity at what was believed to be a roughly $150 billion valuation, according to Faber.
The valuation for Musk’s AI company is the latest example of skyrocketing valuations for companies that develop foundational AI models. Earlier this month, Anthropic raised $13 billion at a $183 billion valuation. OpenAI, the largest company in the industry, held a secondary share sale that valued it at $500 billion.
However, xAI’s Grok service is widely believed to lag behind Anthropic’s Claude and OpenAI’s GPT models in terms of capabilities.
This is breaking news. Please refresh for updates.
