According to ChainCatcher, Musk's xAI company announced on Monday that it raised $6 billion in Series C funding, with the company's valuation exceeding $40 billion as it continues to strengthen its AI products and infrastructure.
Investors include Blackrock, A16Z, Kingdom Holding, Fidelity, and Sequoia Capital, with the latter three participating in xAI's $6 billion Series B funding round in May this year.
xAI announced in its funding announcement that it is training Grok 3, which has not yet been released according to a tweet by Musk in June, and is expected to be launched by the end of the year.