Did xAI’s Fundraising Fall Short?

Is Elon Musk finally losing his pull?

Earlier this week, the company announced that it was able to raise $6 billion in its Series B fundraising, touting “participation from key investors including Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, amongst others.”

However, as X user @ZeroSumBond points out, the US Securities and Exchange Commission filing suggests a different story. It shows that the company had an offering of a little over $7 billion and was only able to sell a little over $5 billion — a lot less than the target and still a billion short of what was announced.

The $6 billion figure was first reported by Bloomberg earlier in the month, citing unnamed sources, about five months after Musk claimed that the company wasn’t raising funds.

Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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