Tech mogul Elon Musk’s artificial intelligence startup nearly doubled its valuation this week, securing more than $6 billion in financing.

With the help of venture capital allies Andreessen Horowitz, Morgan Stanley, Nvidia and others, xAI raised just over $6 billion. The AI company said the funds will advance its already growing infrastructure, improve its products and accelerate research.

“xAI’s most powerful model yet, Grok 3, is currently training and we are now focused on launching innovative new consumer and enterprise products that will leverage the power of Grok, Colossus, and X to transform the way we live, work, and play,” the company said in a statement.

The company’s most recent funding round was more exclusive than previous attempts. According to reports, only investors who chipped in during the company’s Series B funding round could participate in xAI’s Series C financing.

That could explain the similar results. With a similar investor list, xAI raised about $6 billion at the end of its Series B funding round in May.

This week’s funding round brings xAI’s total raised funds above $12 billion, pushing the company’s valuation to over $45 billion.

• Vaughn Cockayne can be reached at vcockayne@washingtontimes.com.