SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Republicans Raise National Security Concerns Over Intel’s Testing of China-Linked Chipmaking Tools 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy 
Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
Trump Signs Executive Order to Establish National AI Regulation Standard 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
SpaceX Edges Toward Landmark IPO as Elon Musk Confirms Plans 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures 
Elon Musk’s xAI has obtained $6 billion from 97 backers, boosting its valuation and spurring the development of a high-profile Memphis supercomputer. The filing, released Thursday, discloses no investor names but sets the stage for a significant AI footprint that could reshape regional technology priorities.
Elon Musk's xAI Secures $6 Billion in New Funding
According to a regulatory filing, Elon Musk's xAI has raised $6 billion in new financing, completing a funding round that had been planned for months and was believed to have valued the artificial intelligence business at around $40 billion, Bloomberg reports.
A total of 97 individuals contributed $77,593 in equity funding, as disclosed in Thursday's filing with the US Securities and Exchange Commission. There was no mention of investors, valuation, or revenue from the firm.
In October, Bloomberg News reported that xAI was attempting to obtain $40 billion (not including the funds already raised) in new capital.
xAI's $6 Billion Push and Aggressive Funding Strategy
A request for comment by email went unanswered by Musk for some time. The billionaire has been actively seeking funding for xAI since its inception in 2023. In May, the firm completed a second $6 billion round of funding, bringing the total worth of the firm to $24 billion when combining the capital raised.
Current xAI investors Sequoia Capital and Andreessen Horowitz are among those who have backed Musk's earlier ventures, including X.
Opening early this year, xAI's new supercomputer facility in Memphis was able to use at least some of the funds.
Memphis Supercomputer: A Game-Changer for AI Development
According to Yahoo Finance, the facility's expanding size is drawing other significant technology companies to the area, such as Super Micro Computer Inc., Nvidia Corp., and Dell Technologies Inc., and local officials referred to it as the "largest multibillion-dollar investment in the city of Memphis’s history" when it was first announced.
Grok, XAI's chatbot, is accessible to paying users of X, the social network that was once known as Twitter.
