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The deal combined two of Mr. Musk’s companies, which have been on different trajectories. The transaction valued xAI at $80 billion and X at $30 billion,...
“A lot of compute is needed,” Mr. Musk said in a post about the financing, in which BlackRock, Fidelity and Sequoia participated.
The financing efforts follow that of rival OpenAI, which recently closed a funding round that valued it at $157 billion.
Residents say Mr. Musk’s data center for artificial intelligence is compounding their pollution burden and adding stress on the local electrical grid.
Mr. Musk, who founded xAI last year, has said the business “still has a lot of catching up to do” as it looks to compete with...
