Musk's xAI has completed a $20 billion Series E funding round, with participation from Nvidia

xAI announced the completion of its Series E funding round, raising a total of $20 billion, exceeding the previously planned $15 billion fundraising target.

The round included investors such as Valor Equity Partners, StepStone Group, Fidelity Management & Research, Qatar Investment Authority, MGX, Baron Capital Group, among others, with NVIDIA and Cisco participating as strategic investors.

xAI stated that by 2025, the company aims to achieve several advancements in computing power and product development, including the construction of the Colossus I and II supercomputing centers, with GPU capacity exceeding 1 million H100 equivalent computing power; advancing the training of the Grok 4 series models, and launching products like Grok Voice and Grok Imagine, covering applications in voice, image, and video generation. The company disclosed that its product matrix currently covers approximately 600 million monthly active users across X and Grok applications.

Officially, this round of funding will primarily be used to accelerate the construction of computing power infrastructure, support the training of the next-generation Grok 5 models, and promote the continuous development of consumer and enterprise-level products. xAI also stated that it will continue to expand its team to support subsequent R&D and product implementation.