In its latest funding round, xAI exceeded its $15 billion target.
Qatar Investment Authority (QIA) participated in xAI’s newly announced Series E funding round.
“Investors participating in the round include Valor Equity Partners, Stepstone Group, Fidelity Management & Research Company, Qatar Investment Authority, MGX and Baron Capital Group, amongst other key partners,” xAI shared in a press release.
Other strategic technology partners include Nvidia and Cisco.
“xAI completed its upsized Series E funding round, exceeding the $15 billion targeted round size, and raising $20 billion,” the statement added.
QIA’s participation marks one of the largest sovereign wealth fund investments to date in a privately held artificial intelligence company.
In an email to Doha News, QIA confirmed its participation, but offered no further comment.
The round, disclosed by xAI on Monday, was increased from an initial $15 billion target amid strong investor demand.
The financing reportedly doubles xAI’s valuation, placing it among the world’s most highly valued private AI firms.
Founded by Elon Musk in 2023, xAI develops large-scale artificial intelligence systems and competes with companies such as OpenAI, Google DeepMind, and Anthropic.
QIA also partook in xAI’s first funding round, as well as its $6 billion Series C round in December 2024.
The company said the new capital will be used primarily to expand its computing infrastructure, including its “Colossus” supercomputing cluster, and to accelerate development of future generations of its Grok AI models.
Grok currently powers AI features integrated into the social media platform X, also owned by Musk. xAI has positioned the model as a general-purpose AI system designed to support conversational, analytical, and real-time information use cases.
The funding announcement comes as xAI continues to scale rapidly while facing increased scrutiny over AI safety, governance, and content moderation, following criticism of earlier Grok outputs.
Despite these challenges, the size and composition of the Series E round highlight continued investor confidence in the long-term commercial and strategic importance of large-scale AI development.
