The new cash brings xAI’s total raised to $12 billion, adding to the $6 billion tranche xAI raised this spring. CNBC reported in November that xAI was aiming for a $50 billion valuation — double its valuation as of six months ago.

In May this year, the AI company behind Grok raised $6 billion to accelerate the research and development of future technologies. The company said the funds from the Series B funding round will be use

Elon Musk's xAI startup pledges to expand its Colossus AI supercomputer power by 10x where it will use more than 1 million AI GPUs at once.