Golden Finance reported that xAI, a startup under Musk's ownership, has raised $5 billion in new funding, bringing its valuation to $50 billion. The latest round of financing was announced last Friday as a supplement to the billions of dollars raised in May. According to reports, Valor Equity Partners, Sequoia Capital, and Andreessen Horowitz participated in this financing, while the Qatar Sovereign Wealth Fund also participated. These investment companies have previously invested $6 billion in xAI, enabling it to continue to "move steadily forward", a message that the company announced as early as May. According to XAI, other companies investing in this artificial intelligence developer include Vy Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal, and Kingdom Holding.