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Elon Musk's xAI raises $20b in the latest funding round
Gulf News
|January 08, 2026
The oversubscribed round draws support from firms like Nvidia
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Elon Musk's artificial intelligence startup xAI announced yesterday it has raised $20 billion in its latest funding round, surpassing its initial $15 billion target as the company accelerates development of its Grok AI models.
Founded by Musk, xAI competes in an increasingly crowded generative AI market against OpenAI, Google, Perplexity and Anthropic, among others.
This story is from the January 08, 2026 edition of Gulf News.
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