Xai, the AI company of Elon Musk, has raised $10 billion in debt and capital, Morgan Stanley confirmed Monday.
In an X’s post, Financial Giant said Xai raised $5 billion and another $5 billion in another strategic stock trade.
“The combination of debt and equity reduces the overall cost of capital and significantly expands the capital pool available to Xai. Revenues support the continued development of cutting-edge AI solutions, including one of the world’s largest data centers. [sic] And its flagship Glock platform,” writes Morgan Stanley.
Xai did not immediately reply to requests for comment outside of normal business hours.
This latest funding follows a $6 billion round raised from large investors’ slate in December, including Andreessen Horowitz, BlackRock, Fidelity, LightSpeed, MGX, Morgan Stanley, OIA, QIA, Andreessen Horowitz, Mgx, Morgan Spaital, Valor Equity Partners, Vy Capital, Nvidia, AMD, Kingdom Holdings and Saudi commolomeate.
The new equity round will increase Xai’s total capital to around $17 billion.
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