XAI, the artificial intelligence startup run by Elon Musk, raised a combined $10 billion in debt and equity, Morgan Stanley said. Half of that sum was clinched through secured notes and term loans, while a separate $5 billion was secured through strategic equity investment, the bank said on Monday.

AI has secured a total of $10 billion in fresh funding to accelerate further in AI space by expanding its AI infrastructure and develop its flagship Grok platform

Citing the usual anonymous people familiar with the matter, Bloomberg writes that the $500 million that xAI will earn this year looks positively tiny next to