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xAI completes $10 billion capital raise to expand Grok platform and U.S. data centers
xAI raised $10 billion in mixed financing to expand Grok AI infrastructure, develop advanced models, and open Texas and Nevada data facilities.
xAI, founded by Elon Musk in 2023, secured $10 billion through a combined debt and equity offering led by Morgan Stanley and a consortium of institutional investors. The funding includes $5 billion in secured notes and $5 billion in preferred equity. Proceeds will be allocated to expand Grok’s AI training infrastructure, develop next-generation language models, and establish new data centers in Texas and Nevada.
xAI currently employs 500 personnel and operates parallel research programs integrated with the broader X ecosystem.