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SpaceX to Invest $2 Billion into Elon Musk's xAI
Mint Kolkata
|July 14, 2025
Elon Musk's SpaceX has agreed to invest $2 billion in his artificial intelligence company xAI, investors close to the companies said, nearly half of the Grok chatbot maker's recent equity raise.
Musk has repeatedly mobilized his business empire to boost the AI startup, which is racing to catch up with OpenAI. Earlier this year, he merged xAI with X, combining what was a small research lab with a social media platform that helps amplify the reach of its Grok chatbot. The merger valued the new company at $113 billion.
The SpaceX investment is part of xAI's $5 billion equity fundraise announced by Morgan Stanley last month. It is the rocket-maker's first known investment into xAI and one of its largest in another company.
Since leaving his role in the Trump administration, Musk has turned his attention to training the latest version of Grok, which earned high marks from AI-benchmarking service Artificial Analysis for its performance following its release on Wednesday.
This story is from the July 14, 2025 edition of Mint Kolkata.
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