Elon Musk attends the U.S.-Saudi Investment Forum in Washington, D.C., U.S., November 19, 2025.Elon Musk's xAI said it raised $20 billion in a funding round, exceeding its prior target of$15 billion. CNBC reported in November that a financing would value the artificial intelligence startup at about $230 billion.Investors included Nvidia and Cisco Investments as well as long-time Musk company backers Valor Equity Partners, Stepstone Group, Fidelity Management & Research Company, Qatar Investment Authority, ...