xAI has secured a total of $10 billion in funding, consisting of $5 billion in loans and $5 billion in equity investments. The financial support is intended for expansion, particularly in developing the Grok platform. Plans include building a new data center in Memphis that could host up to 350,000 GPUs. The recent financing round was oversubscribed, indicating strong investor interest, with potential future financing conversations for an additional $20 billion. This could elevate xAI's valuation significantly, up to $200 billion.
xAI has raised a total of $10 billion in fresh capital, consisting of $5 billion in loans and $5 billion in strategic equity investments for further expansion.
The capital raised will be used to support the infrastructure plans, including the rollout of a new data center in Memphis projected to contain 350,000 GPUs.
With the new financing, xAI aims to scale up its Grok platform and has plans to acquire an additional 800,000 GPUs to support future growth.
The recent financing round is oversubscribed, indicating high investor demand, and could ultimately raise xAI's valuation to as much as $200 billion.
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