xAI announced the completion of a $6 billion Series C funding round, with participation from BlackRock and others

ChainCatcher news, according to Forbes, Musk's xAI company announced on Monday that it has raised $6 billion in a Series C funding round, with the company's valuation exceeding $40 billion as it continues to strengthen its artificial intelligence products and infrastructure.

Investors include Blackrock, A16Z, Saudi Arabia's Kingdom Holding Company, Fidelity, and Sequoia Capital, the latter three of which participated in xAI's $6 billion Series B funding round in May this year.

In the funding announcement, xAI stated that it is training Grok 3, and according to a tweet released by Musk in June, Grok 3 has not yet been launched and is expected to be released by the end of the year.