xAI Capital Expenditure (Colossus Buildout)
FY2025-Q1 2026
Capital Expenditure (USD B)
Updated at 2026-05
Colossus GPU Cluster Scale (Memphis)
Sep 2024-Target (late 2026)
Deployed GPUs (Memphis complex)
Updated at 2026-02
xAI Funding Rounds and Valuation Trajectory
| Round (date) | Amount | Post-Money Valuation | Notable Investors / Structure |
|---|---|---|---|
| Series A (Dec 2023) | $135M | n/a | Insider Musk-aligned investors |
| Series B (May 2024) | $6B | $24B | Valor, Vy Capital, a16z, Sequoia, Fidelity, Saudi PIF (Kingdom Holding) |
| Series C (Dec 2024) | $6B | $50B | a16z, Sequoia, Valor, BlackRock, Fidelity, Kingdom Holding, MGX, Lightspeed, Morgan Stanley |
| X Corp acquisition (Mar 2025) | $33B all-stock | $113B combined entity (xAI at $80B + X at $33B) | xAI absorbs X (formerly Twitter); distribution + RLHF data |
| Equity + Debt (Jul 2025) | $10B ($5B equity + $5B debt) | n/a | Morgan Stanley debt syndicate + existing equity investors |
| Series E (Jan 2026) | $20B | ~$230B | Existing strategic and sovereign investors (upsized from $15B target) |
| SpaceX combination (Feb 2026) | All-stock share exchange | $250B (xAI); $1.25T combined | Combined with SpaceX; 1 xAI share = 0.1433 SpaceX share |
Updated at 2026-02
Grok Model-Family Release Timeline
| Date | Model | Notable capability / benchmark |
|---|---|---|
| Nov 2023 | Grok-1 | First model; rolled to X Premium+; weights open-sourced (Apache 2.0) Mar 2024 as 314B MoE |
| May 2024 | Grok-1.5 | Longer context and improved reasoning; ahead of the Series B raise |
| Aug 2024 | Grok-2 / Grok-2 mini | Consumer release on X Premium; Aurora native image generation followed |
| Feb 2025 | Grok-3 | Trained on ~200K H100 Colossus cluster (10x prior compute); Think mode; beat GPT-4o on AIME and GPQA per xAI |
| Jul 2025 | Grok 4 / Grok 4 Heavy | Frontier reasoning; HLE 25.4% (44.4% Heavy), ARC-AGI-2 15.9%, AIME 2025 91.7% (Heavy: 100%), GPQA 87.5%; #1 on Artificial Analysis index at launch |
| Nov 2025 | Grok 4.1 | Rolled to all users on grok.com, X, iOS and Android; refresh during the Series E run-up |
| Feb 2026 | Grok 4.20 Beta | Multi-agent architecture; shipped around the SpaceX combination |
| Apr 2026 | Grok 4.3 Beta | Native video input, native file output, 1M-token context |
| Q2 2026 (target) | Grok 5 (RUMORED) | Targets ~10T parameters; timing slipped from Q1 to Q2 2026 per xAI; not released as of Jun 2026 |
Updated at 2026-04
Grok Monthly Active Users
Mar 2025-Mar 2026
Grok Monthly Active Users (M)
Updated at 2026-03
xAI Consolidated Revenue vs Operating Loss
2024-2025
Updated at 2026-05
xAI in AI Software
OpenAI
$PRIVATE
Largest AI lab by revenue. Approximately $13B annualized run-rate revenue (mid-2025) from a mix of ChatGPT consumer subscriptions, ChatGPT Enterprise / Team, the OpenAI API, and Microsoft Azure OpenAI revenue share. ChatGPT reaches roughly 800M weekly active users (late 2025). Builder of the GPT family (GPT-4o, GPT-4.5, GPT-5, o-series reasoning models) and Sora video. Microsoft is the dominant compute and distribution partner; SoftBank led the $40B March 2025 primary round at $300B.
