According to an announcement from Morgan Stanley on July 1, the artificial intelligence company xAI founded by Elon Musk has successfully raised $10 billion, including $5 billion from issuing secured bonds and term loans, and $5 billion from strategic equity.
The money will be used for xAI's efforts in the artificial intelligence (AI) industry, including building one of the world's largest data centers, as well as developing the company's flagship AI model Grok.
Grok is an AI model developed by xAI, considered a direct competitor of ChatGPT with the ability to respond flexibly, intelligently and update in real time from the web and social network X (formerly Twitter).
According to Morgan Stanley, the funding will help xAI expand its infrastructure, creating massive data centers for training and deploying large-scale AI models. xAI plans to use some of the capital to develop the Colossus supercomputer - a platform expected to handle massive amounts of data, contributing to improving the performance of AI applications like Grok.
Mr Musk's xAI is also in talks to raise about $20 billion in additional equity, valuing the company at more than $120 billion. Some investors have valued xAI at as much as $200 billion.
Elon Musk founded the startup in early 2023 and merged it with social media platform X in March 2025. The goal of xAI is to develop an AI platform to compete with existing services like ChatGPT. The company has recruited engineers from major companies like Google and OpenAI and received funding from investors in Musk's companies like SpaceX and Tesla.
Grok is said to have attracted a large number of users, but xAI has kept specific user figures under wraps, causing great curiosity in the tech community.
Morgan Stanley is a longtime partner of Elon Musk. It advised on the 2022 acquisition of Twitter (now X) and led the group of banks providing $44 billion in debt financing for the deal.
Notably, news of this major fundraising deal comes amid escalating tensions between Elon Musk and US President Donald Trump.
On June 30, when Elon Musk announced that he would support the establishment of the America Party, which advocates austerity to reduce the budget deficit and reduce public debt, Mr. Trump shared the following status on the Truth Social website, stating that, before publicly supporting his candidacy for President, Elon Musk knew clearly that Mr. Trump was firmly opposed to the regulation requiring the use of electric vehicles.
Mr. Trump also said that Elon Musk probably received more subsidies from the US government than anyone in history. Without those subsidies, Mr. Trump said, Elon Musk “would have had to close the company and go back to South Africa.”
At that time, according to the current US president, “there will be no more rocket launches, no more satellites, no more electric car production lines”, and the US will “save a huge amount of money”. Mr. Trump asked, perhaps the US should let DOGE (the US government efficiency promotion agency) take a serious look at this. He believes that it will save a lot of money.
Source: https://vietnamnet.vn/elon-musk-huy-dong-10-ty-usd-giua-luc-bi-ong-trump-doa-cat-tro-cap-2417281.html
![[OCOP REVIEW] Bay Quyen sticky rice cake: A hometown specialty that has reached new heights thanks to its brand reputation](https://vphoto.vietnam.vn/thumb/402x226/vietnam/resource/IMAGE/2025/7/3/1a7e35c028bf46199ee1ec6b3ba0069e)
Comment (0)