Elon Musk's xAI Plans to Raise $4.3 Billion to Support the Continued Development of Grok

BlockBeats reports that on June 17, according to Bloomberg, informed investors revealed that Musk's artificial intelligence company xAI is in talks to raise $4.3 billion through equity financing. The previously raised funds have mostly been depleted, and the new funding will be used to support the continued development of its AI chatbot, Grok.

Recently, xAI also sought to raise $5 billion from debt investors to fuel aggressive expansion.