AI, Elon Musk's artificial intelligence startup, raised $5 billion in debt and $5 billion in equity. The funding will go towards xAI's efforts to build out its AI infrastructure and develop its Grok chatbot.

Elon Musk’s artificial intelligence company, xAI, has raised $10 billion in fresh capital, according to Morgan Stanley, which handled the financing. Half of that came from secured notes and term loans,

Elon Musk's xAI will use the fresh capital to fuel its AI development efforts, including its large-scale data centre projects and Grok, its flagship AI platform.