Elon Musk's AI startup, xAI, has successfully raised $20 billion in a Series E funding round, surpassing its initial $15 billion target. The oversubscribed round saw participation from major investors including Nvidia, Valor Equity Partners, and the Qatar Investment Authority. The funds will accelerate the expansion of xAI's computing infrastructure, including the deployment of what it claims are the world's largest AI supercomputers, to support the development of its Grok AI models and advance its mission to understand the universe.