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Wu said that xAI announced the completion of an expanded Series E funding round, raising over the original target of $15 billion, ultimately reaching $20 billion. Participating investors include Valor Equity Partners, StepStone Group, Fidelity Management & Research Company, Qatar Investment Authority, MGX, Baron Capital Group, among others. Strategic investors include NVIDIA and Cisco Investments. This round of funding will mainly be used for expanding computing infrastructure and related technological capabilities.