Musk's start-up xAI has raised $5 billion in fresh funding, valuing it at $50 billion. The latest round of funding, first announced on Friday, complements billions of dollars raised in May. Valor Equity Partners, Sequoia Capital and Andreessen Horowitz reportedly participated in the fundraising, as did Qatar's sovereign wealth fund. The investment firms had already invested $6 billion in xAI, allowing it to continue its "steady march," as the company announced back in May. Other companies investing in the artificial intelligence developer include Vy Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal, and Kingdom Holding, according to xAI.