Elon Musk-backed startup xAI is seeking a massive $4.3 billion equity investment. This funding would complement Musk’s proposed $5 billion debt financing for his combined companies, X and xAI. The move comes after the company received a $6 billion cash infusion last December, which it has largely spent due to resource-intensive technology needs. xAI develops AI chatbot Grok and image generator Aurora, using power-hungry tech that’s accelerating its expenditure.
Source: https://techcrunch.com/2025/06/17/elon-musks-xai-is-reportedly-seeking-a-4-3b-equity-raise