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Elon Musk’s xAI lands $6B in new cash to fuel AI ambitions
Jacqueline Choi
January 03, 2025
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What's in this week's issue?
💸 Elon Musk’s xAI lands $6B in new cash to fuel AI ambitions
🇺🇸 Sriram Krishnan named Trump’s senior policy advisor for AI
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xAI, Elon Musk’s AI company, has raised $6 billion, according to a filing with the U.S. Securities and Exchange Commission on Thursday. Investors gave a minimum of $77,593, per the filing (97 participated, but the document doesn’t reveal their identities).
xAI later announced (confirming some earlier reporting) that Andreessen Horowitz , Blackrock, Fidelity, Kingdom Holdings, Lightspeed, MGX, Morgan Stanley, OIA, QIA, Sequoia Capital, Valor Equity Partners, Vy Capital, Nvidia, AMD, and others numbered among them.
The new cash brings xAI’s total raised to $12 billion, adding to the $6 billion tranche xAI raised this spring. CNBC reported in November that xAI was aiming for a $50 billion valuation — double its valuation of six months prior.
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President-elect Donald Trump has confirmed reports that Sriram Krishnan, until recently a general partner at Andreessen Horowitz (a16z), will serve as senior policy advisor for AI at the White House Office of Science and Technology Policy.
Trump said in a statement that Krishnan will “help shape and coordinate AI policy across government, working with the president’s council of advisors on science and technology.” And in a post on X, Krishnan said that he’ll be working closely with ex-PayPal COO David Sacks, who was recently named Trump’s crypto and AI “czar.”
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