xAI closes $6 billion Series C to expand AI infrastructure and products
The December 2024 round brought strategic investors NVIDIA and AMD alongside institutional and sovereign backers.
xAI announced the close of a $6 billion Series C on 23 December 2024. The funding would support computing infrastructure, AI product development and research.
Participants included Andreessen Horowitz, BlackRock, Fidelity Management & Research Company, Kingdom Holding Company, Lightspeed, MGX, Morgan Stanley, Oman Investment Authority, Qatar Investment Authority, Sequoia Capital, Valor Equity Partners and Vy Capital. NVIDIA and AMD also participated as strategic investors.
The company was expanding Colossus, its AI training cluster, while developing Grok models and its developer API. At the time of the round, xAI said Grok 3 was in training and it planned new consumer and enterprise products.
Use of funds
Expand advanced computing infrastructure
Develop AI products
Fund research and development