xAI secures $20 billion in funding from Nvidia, Cisco, and Fidelity

xAI, Elon Musk's artificial intelligence company, has secured $20 billion in new funding from investors including Nvidia and Cisco. The funding round exceeded xAI's initial target of $15 billion and reportedly values the startup at approximately $230 billion. Investors also include Fidelity and Qatar Investment Authority. This significant investment comes as AI startups continue to attract substantial capital, with OpenAI and Anthropic also raising billions in recent funding rounds.