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Musk-led xAI raises $6 billion in Series B funding

Credit: xAI

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Elon Musk’s artificial intelligence (AI) company xAI has announced new Series B funding, said to help bring its products to market, and accelerate infrastructure development and future research.

On Sunday, xAI announced that it has raised $6 billion in a Series B funding round, just a few months after Musk said earlier this year that the company wasn’t actively raising capital. The funding round features key investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal, and Kingdom Holding, along with others, still.

Tesla again urges investors to vote in favor of Musk pay plan, Texas move

Last month, xAI unveiled its Grok 1.5V with visual and contextual processing, along with making Grok’s weights and architecture open to the public in March. Grok officially debuted in November as the company’s first product.

The company also said in the announcement that it plans to “continue on this steep trajectory of progress over the coming months, with multiple exciting technology updates and products soon to be announced.”

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“The funds from the round will be used to take xAI’s first products to market, build advanced infrastructure, and accelerate the research and development of future technologies,” xAI adds.

The post also points to the company’s careers page, where interested parties can apply to work for the Musk AI company.

Musk also followed up the announcement saying that people should “Join xAI if you believe in our mission of understanding the universe, which requires maximally rigorous pursuit of the truth, without regard to popularity or political correctness.”

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In January, following a report from Financial Times and Bloomberg claiming that xAI had been raising $6 billion in funding — and following a flurry of attacks lodged against OpenAI by Musk for abandoning its non-profit mission — Musk dismissed the statements, saying that the company wasn’t raising capital.

The announcement also comes as shareholders at Tesla are voting on whether to ratify Musk’s voided 2018 compensation package, occurring between now and its Annual Stockholders Meeting on June 13. Musk has previously threatened to take AI and robotics development outside of Tesla if he doesn’t gain around 25 percent voting control within the company—though the statements followed the CEO selling around $22.9 billion worth of Tesla shares in 2022 during his acquisition of Twitter.

What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

Zach is a renewable energy reporter who has been covering electric vehicles since 2020. He grew up in Fremont, California, and he currently lives in Colorado. His work has appeared in the Chicago Tribune, KRON4 San Francisco, FOX31 Denver, InsideEVs, CleanTechnica, and many other publications. When he isn't covering Tesla or other EV companies, you can find him writing and performing music, drinking a good cup of coffee, or hanging out with his cats, Banks and Freddie. Reach out at zach@teslarati.com, find him on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

Investor's Corner

Tesla just got a weird price target boost from a notable bear

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Credit: Tesla Manufacturing

Tesla stock (NASDAQ: TSLA) just got a weird price target boost from a notable bear just a day after it announced its strongest quarter in terms of vehicle deliveries and energy deployments.

JPMorgan raised its price target on Tesla shares from $115 to $150. It maintained its ‘Underweight’ rating on the stock.

Despite Tesla reporting 497,099 deliveries, about 12 percent above the 443,000 anticipated from the consensus, JPMorgan is still skeptical that the company can keep up its momentum, stating most of its Q3 strength came from leaning on the removal of the $7,500 EV tax credit, which expired on September 30.

Tesla hits record vehicle deliveries and energy deployments in Q3 2025

The firm said Tesla benefited from a “temporary stronger-than-expected industry-wide pull-forward” as the tax credit expired. It is no secret that consumers flocked to the company this past quarter to take advantage of the credit.

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The bump will need to be solidified as the start of a continuing trend of strong vehicle deliveries, the firm said in a note to investors. Analysts said that one quarter of strength was “too soon to declare Tesla as having sustainably returned to growth in its core business.”

JPMorgan does not anticipate Tesla having strong showings with vehicle deliveries after Q4.

There are two distinct things that stick out with this note: the first is the lack of recognition of other parts of Tesla’s business, and the confusion that surrounds future quarters.

JPMorgan did not identify Tesla’s strength in autonomy, energy storage, or robotics, with autonomy and robotics being the main focuses of the company’s future. Tesla’s Full Self-Driving and Robotaxi efforts are incredibly relevant and drive more impact moving forward than vehicle deliveries.

Additionally, the confusion surrounding future delivery numbers in quarters past Q3 is evident.

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Tesla will receive some assistance from deliveries of vehicles that will reach customers in Q4, but will still qualify for the credit under the IRS’s revised rules. It will also likely introduce an affordable model this quarter, which should have a drastic impact on deliveries depending on pricing.

Tesla shares are trading at $422.40 at 2:35 p.m. on the East Coast.

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Tesla coding shows affordable model details, including potential price

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Credit: @tslaming | X

Coding within Tesla’s website appears to have potentially revealed some details of the affordable model it plans to launch, including its possible price.

Although these details are unconfirmed by the company, recent sightings of the vehicle have sparked significant speculation as to what it will offer.

Tesla said a few months back that it had already successfully built the first few test units of the affordable model. CEO Elon Musk revealed later that it would essentially be a stripped-down version of the Model Y with a handful of changes.

We had our first look at what those changes appear to be, as what is likely the new affordable model was spotted on roads near Gigafactory Texas yesterday. It is a Model Y body with some Model 3 features.

It lacks the light bar that the new Model Y has and instead equips headlights similar to those of the Model 3 “Highland.”

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Affordable Tesla Model Y spotted without camouflage near Giga Texas

Other design changes appear to include no glass roof and new wheels. Some rumors have also indicated that Tesla plans to use a cheaper, textile interior, devoid of the flashy features that its other cars are equipped with, including no rear screen, no HEPA system, and manually adjustable second-row air vents.

However, coding within the Tesla website seemed to reveal some pretty significant details about the new affordable model, including its name, which differs from the E41 codename it was given, its price, and a complete list of features.

This was found by Tesla Newswire on X. Here’s what the coding showed for the car. Note that this was found in coding, and is not necessarily confirmation from Tesla regarding what it plans to offer:

  • Name – Model Y Standard
  • Price $39,990
  • Redesigned front fascia
  • Single-part headlights
  • Front bumper camera
  • No glass roof, noted as a “closed glass roof”
  • 18″ Aperture wheels
  • Manually adjustable steering wheel
  • Textile décor
  • 15.4″ front touchscreen
  • No second-row touchscreen
  • Manually adjustable air vents in the second row
  • No HEPA system
  • 75 cu. fu. cargo space

Here’s what the coding looked like:

Many believe these could be the specs and details of the new affordable model, but others think Tesla might be baiting the community. Tesla knows its fans well, and many of them are sharp enough to examine some of the core portions of its website, looking for clues.

The company is well aware that these breadcrumbs will be discovered, and could be putting anything to drive up interest and chatter about what it could release. It certainly seems as if the price tag is a tad high, which tends to push some skepticism about the coding.

However, we’ll take anything we can get at this point. It is important to note that this coding is not a confirmation of details from Tesla.

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Affordable Tesla Model Y spotted without camouflage near Giga Texas

The vehicle had clean lines and it looked sleek, though it was also notably simpler than the standard Model Y.

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Credit: Ryan Mable/X

The tea leaves seem to be pointing towards the imminent release of the highly anticipated affordable Tesla Model Y. This was hinted at in recent observations from notable Tesla influencers on social media, as well as a sighting of the vehicle without any camouflage.

The affordable Tesla uncovered

Sightings of the affordable Model Y have been abounding as of late, though details of the vehicle were still hidden by coverings on the vehicle. In a recent post on X from Firefly engineer Ryan Mable, however, noted Tesla influencer Sawyer Merritt has reportedly “spotted an uncovered cheaper Model Y variant” driving near Giga Texas. 

Several images of the uncovered vehicle were shared online. Based on the photos that were shared by Mable, the affordable Model Y seemed to feature a fascia that’s inspired by the Model 3 sedan. Its roof also looked blacked out. Overall, the vehicle had clean lines and it looked sleek, though it was also notably simpler than the standard Model Y.

Tesla influencer mystery

Interestingly enough, several Tesla influencers apart from Merritt posted that they were in Giga Texas. These included drone operator Joe Tegtmeyer, teardown specialist Sandy Munro, and reviewers Kyle Conner and Kim Java. These influencers have not provided any context behind their Giga Texas trip, though the fact that they were gathered on the site brought speculations that Tesla might have invited the group for a teaser or a private unveiling event of sorts.

It remains to be seen when the affordable Model Y would be made available, though conversations now are centered on the vehicle’s potential price. Previous reports suggested that the car might be priced just below $40,000, which many believe would result in very low sales, though some have also speculated that the affordable Model Y could be priced below $35,000, which would likely make it a strong seller.

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