X raises $20B

xAI completed its upsized Series E funding round, raising $20 billion, above the $15 billion targeted round size. Investors named in the announcement include Valor Equity Partners, Stepstone Group, Fidelity Management & Research Company, Qatar Investment Authority, MGX and Baron Capital Group, with NVIDIA and Cisco Investments as strategic investors. xAI says the company ended 2025 with over one million H100 GPU equivalents across Colossus I and II, and that its apps reach approximately 600 million monthly active users. The company also says Grok 5 is currently in training.