Elon Musk's xAI Secures $6 Billion Funding

Elon Musk's artificial intelligence venture, xAI, has successfully secured $6 billion in a new funding round, according to a recent regulatory filing with the US Securities and Exchange Commission. The completion of this round comes after months of anticipation and negotiations.

The funding attracted a broad base of support, with 97 investors contributing to the round. Investment amounts varied, with the smallest recorded stake being $77,593. The filing, which took place on Thursday, did not disclose the identities of the investors or provide specific information regarding the company's valuation or revenue figures.

In October, Bloomberg News reported that xAI was seeking fresh capital aiming for a valuation of $40 billion, not accounting for the funds being raised at that time.

This financial injection follows a previous $6 billion funding round in May, which placed the company's valuation at $24 billion, inclusive of the capital raised. The current status of xAI's valuation after this latest funding round remains unspecified in the filing.

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