Elon Musk's AI startup xAI is on track to secure a massive $15 billion funding round, with a valuation set at $230 billion before the new investment. Sources claim the round will close on December 19, after an allocation deadline on Tuesday. This aligns with earlier reports, although Musk publicly dismissed the initial news as "false" on X, the platform formerly known as Twitter. The funding aims to bolster xAI's capabilities, particularly by investing heavily in graphics processing units that power large language models. This move reflects the growing demand for AI tools, as evidenced by competitors like OpenAI and Anthropic also raising significant funds recently. OpenAI just completed a $6.6 billion share sale, valuing the company at $500 billion, while Anthropic secured $13 billion, tripling its valuation since March. xAI is known for its Grok chatbot, which has faced criticism for spreading hate speech, including antisemitic content. The company also introduced Grokipedia, an AI competitor to Wikipedia. Earlier this year, Musk announced a merger between xAI and X, valuing the social media platform at $33 billion, further intertwining his ventures in AI and social media.