Musk’s xAI adds billions in funding
Qatar’s sovereign-wealth fund, Qatar Investment Authority, and investment firms Valor Equity Partners, Sequoia Capital and Andreessen Horowitz are expected to participate in the round, according to people familiar with the matter. The financing brings the total amount xAI has raised to $11 billion this year.
It appears friends everywhere in the world started looking into their pockets; they already know the drill: last time it was Boeing that needed some foreign support, now it is Musk. Figures.
Investor interest in Musk’s businesses, including xAI and SpaceX, have increased since Donald Trump won the presidential election. Musk spent hundreds of millions of dollars to boost Trump’s campaign and led rallies on behalf of the Republican. He has worked on the early stages of Trump’s transition back to the White House and is co-leading an effort to cut government spending.
That is a bit of an irony, to be assigned to cut funds while trying to get funds.
Update: xAI annualized revenue is (drums…) $100 million
