Elon Musk's xAI raises $20 billion from Nvidia and investors as regulatory scrutiny intensifies
Elon Musk's artificial intelligence startup xAI announced it raised $20 billion in Series E funding, surpassing its initial $15 billion target. The funding round drew backing from Nvidia, Cisco, Fidelity, and Qatar Investment Authority. However, the company faces international investigations after its Grok chatbot generated child sexual abuse material and nonconsensual deepfakes of real people.