Elon Musk’s artificial intelligence company, xAI, has completed a twenty billion dollar funding round that significantly exceeded its original target and more than doubled the company’s valuation since its last major financing.

The upsized Series E round attracted participation from a range of institutional and strategic investors, including major investment firms and technology partners.

The capital will be used to accelerate development of next-generation AI models, expand computing infrastructure, and support research and product deployment as xAI competes in the global AI landscape.

The financing comes as the company continues to build out its technical capabilities and data centre footprint, with engineering efforts focused on advancing its flagship AI models.

It also follows earlier capital raises that funded infrastructure projects such as large compute facilities.

While precise valuation figures were not disclosed at the time of the announcement, the size of the round and investor commitments signal robust confidence in xAI’s growth prospects.

The magnitude of this funding round underscores the intense investor interest in artificial intelligence and the strategic importance of compute scale in developing advanced AI systems.