Elon Musk-Backed xAI's $15 Billion Series E Deadline Reportedly Extended By A Week

• The new deadline for xAI’s Series E funding round is now set for December 19.
• The news follows conflicting reports about xAI’s funding earlier this month.
• According to CNBC, the deal is still on, but the deadline has been extended. 

Elon Musk’s AI startup xAI (XAI) has reportedly extended the deadline for its $15 billion Series E funding round to December 19, giving investors additional time to secure allocations. 

According to CNBC’s David Faber on Tuesday, the round is targeting a pre-money valuation of $230 billion, up from earlier reports of $200 billion.

To Fund Or Not To Fund?

The news follows conflicting reports earlier this month. CNBC had initially reported the $15 billion raise at a $200 billion valuation, which Musk publicly rejected on X, calling the report “false.” The Wall Street Journal subsequently reported that xAI is in advanced discussions to raise $15 billion in equity funding at the higher $230 billion valuation, last week with no reaction from Musk.

According to CNBC, the deal is still on, but the deadline has been extended. On Stocktwits, retail sentiment around xAI – which is not a publicly traded company – trended in ‘bullish’ territory, accompanied by chatter at ‘extremely high’ levels. 

Past Funding

xAI was founded by Musk in March 2023, marking his second foray into AI following his departure from OpenAI in February 2018. In March 2025, xAI acquired X in an all-stock deal, expanding its digital ecosystem and integrating social media data into AI development.

In its Series B round in May 2024, xAI raised $6 billion, primarily to fund infrastructure development and product launches. Later, in December 2024, the company completed a Series C round, raising another $6 billion, which brought total funding at that time to over $12 billion and pushed the company’s valuation to $50 billion.

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