On January 6, Eastern Time, Elon Musk’s AI startup xAI raised $20 billion in a Series E funding round, exceeding its original target of $15 billion. Major investors in this round included Fidelity and the Qatar Investment Authority.On the strategic investor front, NVIDIA, and Cisco continue to support xAI’s rapid expansion of its computing infrastructure and help it build the world’s largest GPU cluster. Looking ahead, xAI stated that Grok 5 is currently in the testing phase, and the company is committed to launching innovative consumer and enterprise products that leverage the powerful capabilities of Grok, Colossus, and X.This latest funding will accelerate its efforts to build world-leading infrastructure and drive the rapid development and deployment of transformative AI products. According to Bloomberg, this funding round had been in the works for several months, with NVIDIA originally planning to invest up to $2 billion.xAI did not disclose the specific investment amounts from each investor, nor did it break down the debt and equity composition of this funding round.Musk previously revealed that xAI is planning to expand its large data center campus in Memphis, where the company will acquire a third building, a move that will increase its AI computing power to nearly 2 gigawatts.