SK Hynix Shares Drop After Strong Nasdaq Debut Despite $26 Billion ADR Listing 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Yaskawa Electric Shares Slide as Weak Profit Overshadows Strong AI Demand 
Asia Stocks Slip as Iran-Hormuz Tensions Lift Oil Prices, Dollar and Bond Yields 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
TSMC Q2 Revenue Surges 36% as AI Chip Demand Powers Growth Ahead of Earnings 
Meta Says States Seek $1.4 Trillion in Penalties Over Teen Social Media Addiction Lawsuit 
Zhipu AI Raises HK$31.37 Billion in Discounted Share Sale to Accelerate AI Growth 
Morgan Stanley Says China’s Reusable Rocket Progress Poses Long-Term Challenge to SpaceX 
Trump, Canada Reach Gordie Howe Bridge Deal Ahead of July 27 Opening 
US-Iran Strikes Escalate as Strait of Hormuz Crisis Pushes Oil Prices Higher 
Oil Prices Jump as U.S.-Iran Conflict and Strait of Hormuz Tensions Shake Global Markets 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
OpenAI Executive Fidji Simo to Step Down Amid Health Challenges Ahead of IPO 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Elon Musk’s xAI has closed a $6 billion funding round powered by NVIDIA and AMD investments. The funding will scale AI supercomputers, train Grok 3, and support the launch of innovative consumer and enterprise products.
xAI Secures $6 Billion Funding from Top Investors
According to Teslarati, xAI's $6 billion Series C financing round is now complete.
A16Z, Blackrock, Fidelity Management & Research Company, Kingdom Holdings, Lightspeed, MGX, Morgan Stanley, OIA, QIA, Sequoia Capital, Valor Equity Partners, and Vy Capital were among the several organizations that participated in the investment round.
NVIDIA and AMD Strengthen xAI’s AI Expansion
Strategic backers NVIDIA and AMD were also involved. The companies' support for xAI's scaling infrastructure will remain unchanged.
With open arms, Elon Musk has accepted NVIDIA's investment. Musk wrote, "It’s an honor to have NVIDIA as an investor." in an X post.
Key Achievements Following Series B Success
Nothing has slowed down xAI after its May 2024 Series B fundraising round. Important technical accomplishments achieved by the AI startup include:
- Colossus: The fastest AI supercomputer ever built, with 100,000 NVIDIA Hopper GPUs, and it went live in 122 days. An increase to 200,000 GPUs is in the works.
- Grok 2: A massive language model empowered with state-of-the-art reasoning skills. X now has Grok installed, which gives it access to data in real time.
- xAI API: Offering developers access to xAI's foundational models with minimal latency and a global reach.
- Aurora: A model for generating images in Grok.
Grok 3 and New Consumer Products in Development
Grok 3, xAI's most sophisticated model to date, is undergoing training at the moment. According to a blog post by the artificial intelligence startup, new consumer and enterprise products are being developed that will make use of Grok, Colossus, and X.
The latest amount of funding will help xAI speed up its research, product development, and infrastructure. Additionally, it aids the business in creating AI systems that are trustworthy, knowledgeable, and do the most good for the human race as a whole.
An additional benefit of the financing is that it allows the AI to increase its recruitment efforts.
