AI, Elon Musk's artificial intelligence startup, raised $5 billion in debt and $5 billion in equity. The funding will go towards xAI's efforts to build out its AI infrastructure and develop its Grok chatbot.

Elon Musk’s artificial intelligence company, xAI, has raised $10 billion in fresh capital, according to Morgan Stanley, which handled the financing.

Elon Musk's xAI will use the fresh capital to fuel its AI development efforts, including its large-scale data centre projects and Grok, its flagship AI platform.