Musk's xAI Closes $15 Billion Funding Round at $230 Billion Valuation Despite Previous Denials

Elon Musk's xAI secures massive $15 billion funding round at $230 billion valuation, closing December 19th despite Musk previously denying such reports on X, as AI investment frenzy continues with rivals OpenAI and Anthropic also raising billions.

• Elon Musk's xAI prepares to close a $15 billion funding round in December at a $230 billion pre-money valuation, with allocation deadline set for end of day Tuesday and closing expected December 19
• The funding confirms earlier reporting that Musk previously called 'False' on social media platform X, with plans to use much of the money for graphics processing units that power large language models
• The massive funding round reflects soaring investor demand for AI companies, as rivals OpenAI recently raised $6.6 billion at a $500 billion valuation and Anthropic closed a $13 billion round in September