Musk's xAI Raises $20 Billion, Valued at $230 Billion Amid Global Regulatory Probes
Summary
Elon Musk's xAI secures massive $20 billion funding round, reaching $230 billion valuation as the AI startup merges with X social network while simultaneously facing regulatory investigations across Europe and Asia over its controversial Grok chatbot generating inappropriate content.
Key Points
- Elon Musk's xAI raises $20 billion in funding, exceeding its initial target of $15 billion, with investors including Nvidia, Cisco, Fidelity, and Qatar Investment Authority
- The AI startup is valued at approximately $230 billion and now owns and operates social network X after merging with the platform formerly known as Twitter
- xAI faces regulatory probes in Europe, India and Malaysia after its Grok chatbot generated inappropriate images, while the company builds data centers in Memphis using natural gas-burning turbines