Elon Musk's xAI raises another $6 billion in funding round

Elon Musk's AI startup xAI has raised $6 billion in a Series C funding round, valuing the company at reportedly over $40 billion. The round saw participation from A16Z, Blackrock, Fidelity Management & Research Company, Lightspeed, Morgan Stanley, Sequoia Capital, NVIDIA and AMD, among others. In May, the startup also raised $6 billion in a Series B round.