{"entity":{"id":"xai","name":"xAI","short":"xAI","kind":"private","valuationUsdB":250,"valuationAsOf":"2026-02-02","valuationSource":"https://www.cnbc.com/2026/02/03/musk-xai-spacex-biggest-merger-ever.html","note":"Series E of $20B closed 2026-01-06 (Nvidia and Cisco among the investors). Folded into SpaceX in an all-stock merger valuing xAI at about $250B (February 2026); SpaceX listed on 2026-06-12 as SPCX."},"outEdges":[],"inEdges":[{"id":"d59e7232abba","from":"nvidia","to":"xai","type":"equity_investment","amountUsdB":2,"amountNote":"Strategic investor in the $20B Series E closed 2026-01-06 (Nvidia and Cisco named by xAI); 'as much as $2B' per CNBC; valuation about $230B, reported.","announced":"2026-01-06","status":"closed","source":"https://www.cnbc.com/2026/01/06/elon-musk-xai-raises-20-billion-from-nvidia-cisco-investors.html","sourceLabel":"CNBC","altSource":"https://x.ai/news/series-e","confidence":"medium"},{"id":"1fa4f0848c3c","from":"tesla","to":"xai","type":"equity_investment","amountUsdB":2,"amountNote":"About $2B of Series E preferred, disclosed in Tesla's Q4 2025 shareholder letter (2026-01-28) as 'expected to close in the first quarter'. xAI was folded into SpaceX weeks later.","announced":"2026-01-28","status":"announced","source":"https://techcrunch.com/2026/01/28/tesla-invested-2b-in-elon-musks-xai/","sourceLabel":"TechCrunch (Tesla shareholder letter)","confidence":"high"},{"id":"55a5daf8b4b6","from":"spacex","to":"xai","type":"equity_investment","amountUsdB":2,"amountNote":"Reported by WSJ as part of a $5B equity round (July 2025); superseded by the Feb 2026 merger.","announced":"2025-07-13","status":"reported","source":"https://techcrunch.com/2025/07/13/elon-musks-spacex-might-invest-2-billion-in-musks-xai/","sourceLabel":"TechCrunch, citing WSJ","confidence":"medium"},{"id":"8f7c99b51a31","from":"spacex","to":"xai","type":"acquisition","amountUsdB":250,"amountNote":"All-stock merger: SpaceX about $1T + xAI about $250B = about $1.25T combined. SpaceX then listed on 2026-06-12 at $135 a share, raising about $75B.","announced":"2026-02-02","status":"closed","source":"https://www.cnbc.com/2026/02/03/musk-xai-spacex-biggest-merger-ever.html","sourceLabel":"CNBC","altSource":"https://www.investing.com/news/stock-market-news/spacex-prices-ipo-at-135-per-share-for-june-12-nasdaq-debut-432SI-4738217","confidence":"high"},{"id":"a2b10c3e2618","from":"capital_markets","to":"xai","type":"debt","amountUsdB":5,"amountNote":"Morgan Stanley-led loans and secured bonds (~12% yields, unrated) alongside a $5B strategic equity raise; orders ~1.5x, described as tepid demand.","announced":"2025-07-01","status":"closed","source":"https://www.cnbc.com/2025/06/17/musks-xai-on-track-to-raise-5-billion-in-fresh-debt-following-modest-demand.html","sourceLabel":"CNBC","confidence":"high"},{"id":"4fb8d2e34bb9","from":"capital_markets","to":"xai","type":"debt","amountUsdB":12.5,"amountNote":"Reported debt component of the $20B Series E, structured through a GPU-secured SPV (lenders' security is the Nvidia hardware).","announced":"2026-01-06","status":"reported","source":"https://www.bloomberg.com/news/articles/2026-01-06/musk-s-xai-closed-20-billion-funding-round-with-nvidia-backing","sourceLabel":"Bloomberg","confidence":"medium"}],"outUsdB":0,"inUsdB":273.5,"partners":[{"id":"spacex","name":"SpaceX","outUsdB":0,"inUsdB":252,"deals":2,"circular":false},{"id":"capital_markets","name":"Bond, loan & private-credit markets","outUsdB":0,"inUsdB":17.5,"deals":2,"circular":false},{"id":"nvidia","name":"NVIDIA","outUsdB":0,"inUsdB":2,"deals":1,"circular":false},{"id":"tesla","name":"Tesla","outUsdB":0,"inUsdB":2,"deals":1,"circular":false}],"circularPairs":[],"circularity":{"id":"xai","name":"xAI","namedFundingUsdB":6,"fromVendorsUsdB":0,"share":0,"vendors":[]}}