Tesla's AI subsidiary Musk XAI raises $6bn, valuing it at $40bn

Elon Musk's artificial intelligence company xAI successfully raised $6 billion in its latest funding round, valuing the startup over $40 billion, according to a new filing with the U.S. Securities and Exchange Commission. The equity financing round had 97 investors participating, with a minimum investment of $775,930, according to the filing, which did not disclose the identities of the investors or details about the company's valuation and revenue. Earlier this month, Bloomberg reported that xAI was seeking new funding at a $40 billion valuation, which did not include the latest raised funds.