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

Billionaire Elon Musk shed new light last week on exactly what technology his artificial intelligence company has in Memphis, and what his plans are for the future of xAI.