Tesla (NASDAQ:TSLA) CEO Elon Musk’s xAI is reportedly preparing to hold another formal funding round to reach a valuation surpassing $200B, according to the Financial Times.
The fundraising round, which is expected to start formally as soon as next month, would be its third fundraising venture in two months, according to the report, which cited people close to the process. xAI raised $10B through loans and cash investments earlier this month and sold $300M of shares in a secondary stock offering in June.
The report comes two days after xAI released its latest flagship artificial intelligence model, Grok 4.
“With respect to academic questions, Grok 4 is better than PhD level in every subject, no exceptions,” Musk said. “At times, it may lack common sense, and it has not yet invented new technologies or discovered new physics, but that is just a matter of time.”
Grok is expected to be integrated into Tesla vehicles and eventually into Tesla’s humanoid robot, Optimus.