Founded Mar 2023 · AI lab · Now part of SpaceX (Nasdaq: SPCX) since Feb 2026

xAI Financials

Funding rounds and the valuation arc from a $24 billion post-money mark in May 2024 to a $230 billion Series E close in January 2026, the two governance-reshaping mergers (the March 2025 all-stock combination with X Corp. and the February 2026 all-stock acquisition by SpaceX at a combined $1.25 trillion), the Memphis Colossus capex story (555,000 NVIDIA GPUs at 2 gigawatts), the NAACP lawsuit over the Southaven gas-turbine power plant, what Grok revenue and ARR xAI has actually disclosed, the Colossus compute-rental contracts with Anthropic, Google, and Reflection AI, the Pentagon and HUMAIN partnerships, and the named-customer roster — every claim cited to a primary source rather than to investor-deck rumors. xAI files no periodic reports with SEC EDGAR (no 10-K, 10-Q, 8-K, or DEF 14A; its results now consolidate into SpaceX's filings) but did file six Form D exempt-offering notices across two entity names — four under “X.AI Corp.” (CIK 2002695) for the late-2023, Series B, and Series C raises plus a small February 2025 business-combination issuance, and two under the post-X-merger parent “X.AI Holdings Corp.” (CIK 2079267) for the mid-2025 equity round and the Series E.

Sibling page: xAI Leadership — the July 2023 launch team, the current executive cohort, and the Musk-personal-control governance subsection. Parent: SpaceX on /orgs/ · Product line: Grok Versions.

Disclosed funding raised

~$52B+

$6B Series B + $6B Series C + $10B mid-2025 debt & equity + $10B Series D + $20B Series E, at announced round sizes. Form D notices show amounts actually sold running below the headline on the two most recent rounds. Excludes the merger-implied marks.

Last announced post-money

$230B

Series E at the January 6, 2026 close. The February 2, 2026 SpaceX merger valued xAI at $250B inside a $1.25T combined entity.

AI segment revenue, Q2 2026

$2.56B

First SEC-filed quarterly revenue for xAI, as SpaceX's AI segment: $2,194M AI solutions & infrastructure + $367M X advertising. Up 247% year over year.

Memphis Colossus GPUs

~555K @ 1.4 GW

GPU count per Musk's January 2026 announcement, up from ~100K H100 at the September 2024 bring-up. Power is SpaceX's SEC-filed nameplate compute at June 30, 2026, up from 1.0 GW a quarter earlier.

Now part of SpaceX. SpaceX acquired xAI in an all-stock deal in February 2026, and xAI now operates as SpaceX's AI division; SpaceX itself went public on Nasdaq under SPCX on June 12, 2026, and xAI's results consolidate into SpaceX's filings. This page is kept for xAI's standalone funding, capex, and product history through the acquisition. See SpaceX Financials.

No periodic SEC filings of its own — what's on this page is what xAI has actually disclosed, plus six Form D notices on SEC EDGAR, plus what its parent and largest counterparties (SpaceX, NVIDIA, Solaris, the Pentagon, HUMAIN) have disclosed about their xAI exposure. xAI is not itself a periodic SEC reporter (no 10-K, 10-Q, 8-K, S-1, DEF 14A), but two xAI entities have filed Regulation D exempt-offering notices. “X.AI Corp.” (CIK 2002695) filed four — December 2023, May 2024 (Series B), December 2024 (Series C), and February 2025 (a small business-combination issuance; see the acquisitions section). The post-X-merger parent “X.AI Holdings Corp.” (CIK 2079267 — the same Palo Alto address, phone, and Musk/Birchall officer pair) filed two more — August 2025 (the mid-2025 equity round) and January 2026 (Series E). All six serve as primary-source confirmation for those events. Since the February 2026 merger, xAI's results consolidate into SpaceX's SEC filings as the AI segment, which is now the highest-grade source for xAI revenue and Colossus capex. The financial picture below is reconstructed from xAI's own news feed at x.ai/news (Series B, Series C, and Series E confirmations; Memphis Colossus build-out announcements; the November 2025 HUMAIN partnership; the December 2025 Grok Business and Grok Enterprise launches; the May 2026 Anthropic compute partnership), Musk's X account where post-merger announcements have routed through him personally, and contemporaneous reporting from CNBC, Bloomberg, TechCrunch, The Information, Reuters, Fortune, Axios, and Defense News. Where reporter coverage is the only source for a number, the row is labeled Reported and links to the underlying coverage. Where xAI itself confirmed a number, the row is labeled Confirmed and links to the primary source. Revenue is surfaced as a headline counter only on a Reported basis — xAI has not formally disclosed GAAP revenue, ARR, gross margin, or burn rate.

The X merger — March 2025

On March 28, 2025 Musk announced an all-stock combination of xAI and X Corp. (the former Twitter platform he had taken private in October 2022 for $44 billion). The deal valued xAI at $80 billion and X at $33 billion, forming a combined ~$113 billion holding-company entity. Grok had run inside X since its November 2023 launch; the merger formalized what had been a tight operational partnership and brought ex-Twitter / X platform-engineering staff into the post-merger xAI reporting hierarchy.

What this means for the numbers on this page.

Pre-merger xAI financials reflect a pure AI-lab burn-rate-and-capex profile. Post-merger numbers blend AI-lab capex with X's social-platform advertising revenue and operating losses. xAI Holdings does not publish a consolidated income statement; the page treats merger-attributable financial flows as not-separately-disclosed and surfaces only the values for which a primary source exists. The leadership-side mechanics of the merger (the Yaccarino transition, the inflow of ex-Twitter / X engineering staff) are covered in detail on the sibling xAI Leadership page.

The SpaceX merger — February 2026

On February 2, 2026 SpaceX announced an all-stock acquisition of xAI (xAI's own “xAI joins SpaceX” post is the primary source; deal mechanics per CNBC, Feb 3, 2026) — each xAI share converting at a 0.1433 ratio into SpaceX equity, valuing xAI at $250 billion against SpaceX's $1 trillion for a combined $1.25 trillion entity, reported at the time as the largest tech merger ever. xAI now operates as a SpaceX subsidiary; Musk remains CEO of xAI and of SpaceX concurrently. The April 10, 2026 staff restructuring that installed Starlink VP Michael Nicolls as xAI's President (and saw CFO Anthony Armstrong depart in the same restructuring) was the first visible leadership consequence of the merger; further engineering-team reorganization followed in May 2026.

What this means for the numbers on this page.

The merger added a parent-level corporate layer above xAI Holdings: SpaceX (parent) → xAI Holdings (xAI + X) → xAI the AI lab. SpaceX completed its Nasdaq IPO (SPCX) on June 12, 2026 — the largest IPO ever — after filing an S-1 whose consolidated FY2025 financials fold xAI in as SpaceX's “AI division,” a segment that carried a ~$6.4 billion operating loss on ~$3.2 billion of revenue and is the driver of SpaceX's consolidated net loss. The Series E raise that closed roughly a month before this announcement remains the most-recent xAI-specific equity-financing event; subsequent capital is deployed inside the combined-entity structure, which this page treats as outside its scope. The SpaceX-side view of the merger — the three revenue streams, the valuation arc, and the IPO — is covered on the new SpaceX Financials page; the leadership-side mechanics are on the sibling xAI Leadership page, and the related Musk political-entanglement thread is covered at the leadership page's political-entanglement subsection.

Funding rounds

Newest round first. Each row's Confirmed / Reported pill reflects whether the dollar figures come from a primary source (xAI's own announcement) or from contemporaneous reporting only. Click a row to expand the round's prose detail and source links. The X-merger and SpaceX-merger valuations sit in their own callouts above (the merger marks are not funding rounds; they're share-conversion events).

Series E Jan 6, 2026 $20B at $230B post-money (upsized from $15B target) Valor / Nvidia Confirmed

On January 6, 2026 xAI announced the close of its $20 billion Series E at a $230 billion post-money valuation, upsized from an initial $15 billion target. The round brought in Nvidia and Cisco as strategic investors alongside a deep list of existing growth-stage participants. The round closed roughly a month before the February 2, 2026 SpaceX merger announcement.

Named participants per contemporaneous reporting: Valor Equity Partners, StepStone Group, Fidelity Management & Research Co., Qatar Investment Authority, MGX (UAE sovereign-AI fund), Baron Capital Group, Nvidia Corp., Cisco Investments, and Tesla. Saudi Arabia's HUMAIN later took a $3 billion significant minority stake in the Series E as part of the November 2025 framework partnership announced at the U.S.-Saudi Investment Forum; see the customer / partner section below.

SEC Form D confirmation. X.AI Holdings Corp. filed a Form D on the same day as the announcement reporting a $19,999,999,972 Rule 506(b) equity offering, of which $16,599,961,030 had been sold to 131 investors, date of first sale December 19, 2025 — i.e. the round was announced as fully sized while roughly $3.4 billion of it remained unsold at the filing date. The notice lists Elon Musk as executive officer/director and Jared Birchall as corporate secretary/signer.

Primary sources: xAI: “xAI Raises $20B Series E,” Jan 6, 2026 and X.AI Holdings Corp. Form D, filed Jan 6, 2026 (SEC EDGAR, CIK 2079267, accession 0000891836-26-000001) · TechCrunch, Jan 6, 2026 · CNBC, Jan 6, 2026. HUMAIN $3B participation: Wamda, Feb 2026.

Series D Sep 19, 2025 $10B at $200B post-money Valor / Kingdom Holding Reported

In September 2025 xAI was reported to have closed a $10 billion equity round at a $200 billion post-money valuation, with Valor Capital, the Qatar Investment Authority, and Prince Al-Waleed bin Talal's Kingdom Holding among the named participants. Musk initially called the report “fake news” on X, stating “xAI is not raising any capital right now”; the round closing was nevertheless reported by CNBC and Bloomberg with corroborating-source sourcing.

This row is labeled Reported because the dollar figures remain reporter-only: xAI did not publish a Series D announcement on its news feed, and no Form D was filed for it under either xAI entity name. That a Series D exists is nevertheless now SEC-confirmed — SpaceX's post-IPO filings list “xAI Series D” redeemable convertible preferred stock as one of five xAI preferred series (A through E) outstanding at December 31, 2025, at 175.0 million shares issued. The share count is disclosed; the price per share and the implied post-money are not, so the $10 billion / $200 billion figures stay reporter-sourced.

Sources: CNBC, Sep 19, 2025 · Bloomberg, Sep 19, 2025. Series existence and share count: SpaceX Form 10-Q, quarter ended Jun 30, 2026, Note 12.

Mid-2025 financing Jun–Aug 2025 $5B debt + $5.32B equity sold per Form D (of a $6.39B offering) Morgan Stanley Confirmed

In mid-2025 xAI closed a roughly $10 billion financing package split between debt and equity. It was first surfaced by reporter coverage in July 2025; both halves have since been confirmed in SEC filings, so the row is labeled Confirmed.

The debt half — $5 billion, June 2025. Per its parent's first post-IPO 10-Q, in June 2025 X.AI Corp. and X.AI LLC entered a First Lien Credit Agreement providing borrowings up to $2 billion, drawing a $1 billion fixed-rate term loan at 12.50% and a $1 billion floating-rate term loan (Term SOFR + 7.25%), both maturing June 30, 2030. In the same month X.AI LLC and X.AI Co Issuer Corp. issued $3 billion of 12.5% Senior Secured Notes due 2030. That is the $5 billion debt raise — the first major debt in xAI's history, packaged primarily to fund Memphis Colossus capex. All of it was repaid in full in March 2026 out of a $20 billion SpaceX bridge loan, at prepayment penalties of $221 million and $518 million respectively; the bridge loan was itself retired in June 2026 from SpaceX's $25 billion inaugural bond issuance.

The equity half — $5.32 billion sold. X.AI Holdings Corp. filed a Form D on August 6, 2025 reporting a $6,390,016,247 Rule 506(b) equity offering, of which $5,318,549,402 had been sold to just 7 investors, date of first sale June 18, 2025, with a $39 million minimum investment — a concentrated strategic round rather than a broad syndicate. The post-money valuation is not asserted in the Form D and xAI published no news-feed post for this round.

Primary sources: X.AI Holdings Corp. Form D, filed Aug 6, 2025 (SEC EDGAR, CIK 2079267, accession 0000891836-25-000046) and SpaceX Form 10-Q for the quarter ended June 30, 2026 (filed Aug 4, 2026, accession 0001628280-26-052535), Note 11 “Debt.” Contemporaneous coverage: Crunchbase News, Jul 2025.

Series C Dec 23, 2024 $6B at $50B post-money a16z / Sequoia Confirmed

On December 23, 2024 xAI announced via its own news feed the close of a $6 billion Series C, a step-up from the May 2024 Series B roughly seven months earlier. The announcement names A16Z, BlackRock, Fidelity, Kingdom Holdings, Lightspeed, MGX, Morgan Stanley, OIA, QIA, Sequoia Capital, Valor Equity Partners, and Vy Capital as key participants, with NVIDIA and AMD participating as strategic investors. The $50 billion post-money valuation is not stated in xAI's post and remains reporter-sourced.

Primary sources: xAI: “xAI raises $6B Series C,” Dec 23, 2024 and X.AI Corp. Form D, filed Dec 5, 2024 (SEC EDGAR, CIK 2002695, accession 0002002695-24-000003) — both are primary sources, so the round is labeled Confirmed. The $50 billion post-money mark is from TechCrunch, Dec 25, 2024.

Series B May 26, 2024 $6B at $24B post-money a16z / Sequoia / Valor Confirmed

On May 26, 2024 xAI announced via its own news feed the close of a $6 billion Series B at a $24 billion post-money valuation (pre-money ~$18 billion). The round is the page's anchor-confirmed valuation mark for the 2024 portion of the arc.

Named participants: Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, and Kingdom Holding Company (the Prince Al-Waleed-bin-Talal vehicle; Saudi Riyals 1.5 billion = ~$400 million participation per Kingdom Holding's own Tadawul disclosure).

Primary sources: xAI news feed (May 2024 Series B announcement) and X.AI Corp. Form D, filed May 28, 2024 (SEC EDGAR, CIK 2002695, accession 0002002695-24-000001, two days after the blog announcement). Kingdom Holding Tadawul filing per Wamda, May 2024 · Fortune, May 27, 2024.

Pre-Series-B Nov 2023 $1B Reg D offering; ~$135M sold per Form D (post-money not disclosed) SEC Form D Confirmed

xAI was incorporated in Nevada on March 9, 2023 and publicly launched July 12, 2023. Its first SEC-disclosed financing is a Regulation D exempt offering with a $1 billion total offering amount, of which $134,679,312 had been sold to four investors as of the Form D filing, date of first sale November 29, 2023 (Rule 506(b); the notice states a binding agreement is in place for the remainder). The form lists Elon Musk as executive officer/director and Jared Birchall as corporate secretary/signer; xAI declined to disclose its revenue range. xAI has not published a primary-source post tying this offering to a “Series A” label, and the post-money valuation is not asserted in the Form D.

Primary source: X.AI Corp. Form D, filed Dec 5, 2023 (SEC EDGAR, CIK 2002695, accession 0002002695-23-000002).

Valuation arc

Post-money valuation per round on a logarithmic scale. The two merger events — the March 2025 X-merger mark at $80B and the February 2026 SpaceX-merger mark at $250B — are plotted as ringed points alongside the funding rounds; they are share-conversion events rather than fresh-capital raises, but the implied xAI valuation at each event is itself a primary-source-confirmable datum. Confirmed values are drawn solid; reported values are drawn dashed.

Filled point: xAI-confirmed valuation

Hollow point: reporter-coverage-only valuation

Filled with amber ring: merger share-conversion event

Revenue and ARR — what's actually been disclosed

This changed on August 4, 2026. xAI has still never published a revenue figure, ARR snapshot, gross margin, or burn rate on its own news feed — but its parent now must. SpaceX's first quarterly report as a public company breaks out an AI segment (Grok, the X platform, and Colossus compute) with audited-basis revenue, operating loss, and capex. Those are the first SEC-filed revenue numbers in xAI's history, so the cards below carry Confirmed pills. The caveat that matters: the AI segment is xAI + X, so segment revenue blends Grok subscriptions, the API, and compute rentals with X's advertising business. SpaceX splits those two lines, and the split is reproduced below.

AI solutions & infrastructure

Q2 2026 — Grok, API, compute rentals

$2,194M

Confirmed · SEC-filed; $311M in Q2 2025

X advertising revenue

Q2 2026 — the other half of the segment

$367M

Confirmed · SEC-filed; down from $426M a year earlier

AI segment loss from operations

Q2 2026 — $(3,726)M for the half

$(1,257)M

Confirmed · SEC-filed; segment adjusted EBITDA turned positive at $1,146M

How this compares to what was reported before. Through mid-2026 the only available figures were reporter estimates of xAI standalone — roughly $350 million of FY2025 revenue, a ~$500 million annualized run-rate, and a ~$2 billion FY2026 target xAI was said to have shown investors. The SEC-filed numbers are an order of magnitude larger because they capture the Colossus compute-rental contracts that the reporter estimates predated: AI solutions and infrastructure revenue went from $311 million in Q2 2025 to $2,194 million in Q2 2026, and SpaceX attributes $1.6 billion of the quarter's incremental infrastructure revenue to new Cloud Services Agreements alone. The two sets of numbers are not measuring the same thing, and the older reporter framing should not be read as having been wrong about Grok subscriptions.

What is still not disclosed. Nothing splits AI-segment revenue below the two lines above — there is no separate disclosure of Grok consumer subscriptions, Grok API, Grok Business / Grok Enterprise seats, government contract revenue, or per-counterparty compute revenue, and no ARR, gross margin, or free-cash-flow figure for the segment. xAI standalone (the AI lab without X) is not a reporting unit anywhere. Segment operating loss is disclosed; xAI's own burn rate is not.

Source: SpaceX, “SpaceX Reports Second Quarter 2026 Results,” Aug 4, 2026 (Exhibit 99.1, AI Segment Operating and Financial Data) · SpaceX Form 10-Q, quarter ended Jun 30, 2026 (accession 0001628280-26-052535), Note 18 “Segments.”

The Memphis Colossus capex story

Colossus is xAI's primary training cluster, located in Memphis, Tennessee (Colossus 1) and Southaven, Mississippi (Colossus 2), roughly 15 miles south across the Tennessee–Mississippi state line. The buildout has been the largest single-site AI-infrastructure project ever undertaken and is the most-cited capital deployment in xAI's history. xAI has never published a cumulative Colossus capex total itself, and for two years the only figures available were trade-press estimates — but since the February 2026 merger its parent reports the spend as a segment line. SpaceX's AI-segment capital expenditures were $15,828 million in Q2 2026 alone and $23,551 million across the first half of 2026, against $749 million in Q2 2025 — a twenty-one-fold year-over-year increase, and roughly 86% of SpaceX's entire consolidated capex for the quarter. That is now the load-bearing capex number on this page; the older $18 billion GPU-outlay estimate below is retained as the hardware-specific figure it was.

GPU count and power-capacity timeline

Sep 2024 ~100,000 NVIDIA H100 GPUs, bring-up complete; xAI publicly described the buildout as taking 122 days from break-ground to first training job, an industry-record pace at the time. Memphis Colossus 1 site.

Dec 2025 ~230,000 GPUs across the combined site: 150,000 H100 + 50,000 H200 + 30,000 GB200, described at the time as the world's largest single-coherent AI training cluster.

Jan 2026 ~555,000 NVIDIA GPUs across Colossus 1 and Colossus 2 combined, at ~2 gigawatts total capacity, with the GPU outlay reported by trade press at approximately $18 billion. In its own January 2026 Series E post xAI stated Colossus I and II ended 2025 with over one million H100-equivalent GPUs. Musk announced the third building purchase and the 2 GW milestone via his X account. (xAI's x.ai/colossus page itself still headlines the earlier 200K-GPU single-cluster state, with a “roadmap to 1M GPUs” note; the 555K / 2 GW mark is sourced to the Musk announcements and trade press.)

May 2026 Colossus 1 spec'd at over 220,000 NVIDIA GPUs (H100, H200, and GB200) in xAI's own May 6, 2026 Anthropic compute-partnership announcement — the first primary-source per-site GPU figure since the merger, and the first disclosure that Colossus compute is being sold to a third-party AI lab (see the Anthropic card below). The same post floats jointly developing “multiple gigawatts of orbital AI compute capacity” with Anthropic, framed around SpaceX's launch economics.

Jun 2026 1.4 GW of nameplate compute, the first SEC-filed power figure for Colossus, disclosed by SpaceX as an AI-segment operating metric at June 30, 2026 — up from 1.0 GW at March 31, 2026 and 0.4 GW a year earlier, “with the continued build-out of Colossus II and with significant incremental capacity under construction.” Note this is nameplate compute capacity and is measured differently from the ~2 GW total site-power figure Musk announced in January 2026; where the two disagree, this page treats the SEC-filed metric as canonical and labels each accordingly.

2027–2028 ~900 MW of permanent on-site generation for the data-center project, being built by Stateline Power, LLC — a joint venture 50.1% owned by Solaris Energy Infrastructure and 49.9% owned by xAI's subsidiary MZX Tech LLC, formed April 28, 2025 to lease off-grid generation equipment to MZX. Solaris's own most recent 10-Q states that no equipment leases had commenced as of June 30, 2026 and no lease revenue had been recognized, so the permanent plant was not yet carrying load; $360.7 million of a $518.5 million term-loan facility had been drawn as of July 2026, with the remainder expected to be drawn across the rest of 2026 as equipment is delivered. Until it commissions, the site draws ~250 MW from the Memphis utility grid and the balance from on-site generation, of which the largest portion is the contested Southaven gas-turbine fleet (see sub-callout below).

Sources: SpaceX Q2 2026 results, Aug 4, 2026 (nameplate compute and AI-segment capex) · Solaris Energy Infrastructure Form 10-Q, quarter ended Jun 30, 2026 (filed Aug 6, 2026, accession 0001628280-26-054349 — Stateline / MZX Tech) · x.ai/colossus · Introl, Jan 2026 expansion writeup · Data Center Dynamics · SemiAnalysis.

The Southaven gas-turbine plant — NAACP lawsuit and Clean Air Act dispute

To bridge the gap between the Memphis utility grid's ~250 MW intertie and Colossus's two-gigawatt power demand, xAI installed a fleet of portable gas-fired turbines at the Southaven, Mississippi site. The Southern Environmental Law Center (SELC) and Earthjustice, representing the national NAACP and its Mississippi State Conference, allege the turbines were brought online without Clean Air Act preconstruction permits, without public notice, and without the best-available control technology required for facilities of this emissions class.

Turbine count. The plant initially comprised 27 gas-fired turbines. After SELC and the NAACP filed a Clean Air Act Section 304 notice of intent to sue in February 2026, xAI brought six additional turbines online for a total of 33.

Reported emissions. SELC's May 2026 preliminary-injunction filing estimates the 33-turbine plant has the potential to emit 2,508 tons of NO_x per year — plus 236 tons of fine particulate matter, 837 tons of carbon monoxide, and 25 tons of formaldehyde — which would make it the largest single industrial source of smog-forming pollutants in the greater Memphis area, an area already in non-attainment for federal smog standards (the American Lung Association graded both DeSoto County, MS and Shelby County, TN an “F” for ozone). In January 2026 the EPA confirmed that large methane gas turbines of this class require construction and operating permits.

Litigation timeline. Section 304 notice February 2026 → complaint filed against X.AI Corp. and subsidiary MZX Tech LLC in U.S. federal court (N.D. Miss., case no. 3:26-cv-00074-MPM-JMV) on April 14, 2026 → NAACP request for a preliminary injunction to halt unpermitted-turbine operation filed May 6, 2026 → U.S. Department of Justice moved to intervene and dismiss the suit with prejudice on June 15, 2026, the DOJ's Environment and Natural Resources Division arguing that the Clean Air Act gives the United States an unconditional right to terminate a citizen-enforcement suit and citing a Department of War declaration that Grok Gov supports classified, mission-critical national-security systems → xAI and MZX Tech filed an amended opposition to the preliminary-injunction motion on July 13, 2026 per the federal docket → briefing closed in late July 2026: the NAACP replied on the PI motion July 15, and on July 24 both the United States (on its amended motion to intervene and dismiss) and the defendants (on their Rule 12(b)(6) motion to dismiss) filed replies → the State of Mississippi filed an amicus brief opposing the NAACP's preliminary-injunction motion, disclosed by parent SpaceX in its Form 10-Q filed August 4, 2026 — the first time the litigation has been described in an SEC periodic report → a telephonic status conference was held before Judge Brown on August 5, 2026 (docket entry 104) → the evidentiary hearing on the preliminary-injunction motion remains set for August 24, 2026 before District Judge Debra M. Brown in Greenville, with no order resetting it on the docket as of this refresh. All three motions — the PI, the DOJ dismissal, and the defendants' motion to dismiss — are fully briefed and pending; xAI continues to operate the turbines. SpaceX's 10-Q records a $354 million accrual for litigation losses across all of its matters and does not break out any portion attributable to this case. xAI itself has not published a press release responding to the lawsuit on its news feed; reporter-cited xAI statements describe the turbines as “temporary” bridge power and assert that pollution-control equipment is being installed alongside the permanent Solaris generation cited in the timeline above.

A second Southaven suit — the Haley nuisance class action. On June 8, 2026 three Southaven residents filed a proposed class action against X.AI Corp., parent Space Exploration Technologies Corp., and MZX Tech LLC (Haley v. X.AI Corp., N.D. Miss., case no. 3:26-cv-00148), alleging the plant's round-the-clock turbine noise is a public and private nuisance and seeking damages, injunctive relief, and punitive damages for a proposed class of Southaven and Horn Lake residents dating to the plant's August 2025 start-up. The complaint alleges the temporary-turbine fleet had grown to 57 by May 2026 and that MZX received a March 10, 2026 permit for 41 permanent turbines — both figures are plaintiff allegations, not xAI disclosures. A case-management conference is set for August 18, 2026.

Sources: Earthjustice case page · Earthjustice PI request, May 6, 2026 · SELC case page · NAACP press release · CNBC, Apr 14, 2026 · CNBC on the DOJ dismissal motion, Jun 16, 2026 · NAACP docket (CourtListener). Haley class action: ClassAction.org, Jun 29, 2026 · Mississippi Free Press · Haley docket (CourtListener).

The page treats the Southaven litigation as a sub-callout within the Memphis Colossus subsection rather than as a standalone /orgs/xai/lawsuits/ section. If the docket expands — class-action joinder, state-level enforcement actions, or independent suits over the Tennessee–Mississippi water-quality dimension — promoting the litigation surface to its own per-org page becomes appropriate. The June 2026 Haley nuisance class action is the first such expansion, so the promotion question is now open rather than hypothetical.

Named customers and strategic partnerships

Customers and partners xAI has surfaced in primary-source posts, plus the counterparties that have disclosed xAI exposure on their own surfaces. The roster below is intentionally limited to what is publicly verifiable.

The compute-rental business now has an SEC-filed aggregate. SpaceX reported closing $14.1 billion of Cloud Services Agreements in the second quarter of 2026 — contracted sales for access to Colossus compute capacity — which produced $1.6 billion of incremental AI-infrastructure revenue in the quarter alone. Consolidated backlog stood at $47.5 billion at June 30, 2026. xAI never published a customer-concentration disclosure of its own, but its parent must, and one is now visible: an unnamed AI-segment customer (“Customer B”) accounted for 19.5% of SpaceX's entire consolidated revenue in Q2 2026, up from below the 10% reporting threshold a year earlier — making a single Colossus compute tenant SpaceX's largest customer company-wide. SpaceX does not name it, and this page does not guess which of the counterparties below it is. Source: SpaceX Form 10-Q, quarter ended Jun 30, 2026, “Concentration of risk.”

U.S. federal government — "xAI for Government"

On July 14, 2025 the U.S. Department of Defense awarded contracts with a $200 million ceiling each to xAI, OpenAI, Google, and Anthropic, with implementation in early 2026 at Impact Level 5 (Controlled Unclassified Information). xAI concurrently launched its xAI for Government suite (federal, state, local, national-security customers), expanded it via a GSA OneGov purchasing arrangement on September 25, 2025 that gives federal agencies a structured procurement path, and on December 22, 2025 announced its selection by the U.S. Department of War to deliver frontier AI — the deployment the DOJ later cited in the Clean Air Act litigation (see the Southaven sub-callout). Source: Axios, Jul 14, 2025 · Defense News, Jul 15, 2025.

HUMAIN (Saudi Arabia) — sovereign AI partnership

A November 2025 framework agreement, announced at the U.S.-Saudi Investment Forum in Washington, D.C., commits HUMAIN (Saudi Arabia's sovereign AI vehicle) and xAI to jointly develop more than 500 MW of hyperscale GPU data-center capacity in the Kingdom, deploy approximately 18,000 NVIDIA GB300 GPUs in the flagship cluster, integrate Grok into HUMAIN ONE (the kingdom's agentic-AI platform), and deploy Grok nationwide across Saudi public and private entities. HUMAIN subsequently took a $3 billion significant minority stake in xAI through the January 2026 Series E (post-close confirmation in February 2026). Source: xAI: Grok goes Global with KSA · Data Centre Magazine, Feb 2026.

Anthropic — Colossus 1 compute customer

On May 6, 2026 xAI announced (under the post-merger “SpaceXAI” branding) an agreement giving Anthropic access to Colossus 1 — spec'd in the post at over 220,000 NVIDIA GPUs (H100, H200, GB200) — which Anthropic plans to use to expand capacity for its Claude Pro and Claude Max subscribers. It is the first disclosed sale of Colossus compute to a third-party AI lab, opening a compute-rental revenue surface alongside Grok subscriptions and the API. The post also states Anthropic “expressed interest in partnering to develop multiple gigawatts of orbital AI compute capacity,” framed around SpaceX's launch cadence and mass-to-orbit economics. The post did not disclose dollar terms; TechCrunch subsequently reported that Anthropic pays $1.25 billion per month through 2029 — roughly $45 billion over the term — to rent all available Colossus 1 compute (Reported). Source: TechCrunch, May 20, 2026.

Google — Colossus compute customer (SEC-filed contract)

On June 5, 2026 SpaceX disclosed in an SEC free-writing prospectus a Cloud Service Agreement under which Google pays $920 million per month from October 2026 through June 2029 — roughly $30 billion over the term — for access to approximately 110,000 NVIDIA GPUs plus CPUs, memory, and related components. Capacity ramps through September 2026 at a reduced fee, and either party may terminate on 90 days' notice after December 31, 2026; the filing does not name which Colossus site serves the contract. Google framed the deal as bridge capacity for surging Gemini Enterprise demand. Source: TechCrunch, Jun 5, 2026.

Reflection AI — Colossus 2 compute customer (reported)

On June 22, 2026 CNBC reported a compute agreement under which Reflection AI — the open-source AI lab founded by DeepMind veterans Misha Laskin and Ioannis Antonoglou — pays $150 million per month starting July 1, 2026 for access to NVIDIA GB300 systems at Colossus 2, worth approximately $6.3 billion if run through 2029, with either party able to exit on 90 days' notice after the initial three months. Neither side has published the terms in primary-source form, so the deal is surfaced as Reported. Source: CNBC, Jun 22, 2026.

El Salvador — nationwide AI education program

On December 11, 2025 xAI announced a partnership with the Government of El Salvador billed as the world's first nationwide AI education program — a sovereign-government deployment of Grok across the country's public-education system. Contract value was not disclosed.

NVIDIA — GPU supplier and Series E strategic investor

NVIDIA has been xAI's primary GPU supplier across the H100 / H200 / GB200 / GB300 generations through 2024 and 2025, was a strategic investor in the December 2024 Series C, and was the named strategic-investor lead alongside Cisco in the January 2026 Series E. NVIDIA's most recent 10-Q (Q1 FY2027, quarter ended April 26, 2026, filed May 20, 2026) does not name xAI explicitly — its customer-concentration footnote stays anonymized (three direct customers at 21%, 17%, and 16% of quarterly revenue) — but contemporaneous reporting on the Colossus buildout consistently positions xAI among NVIDIA's top three customers by Data Center revenue. Cross-reference: /orgs/nvidia/financials/.

Cisco — Series E strategic investor (networking infrastructure)

Cisco Investments participated as a strategic investor in the January 2026 Series E; the company's commercial relationship with xAI on networking infrastructure is consistent with the parallel pattern of strategic-investment-plus-supply-agreement that NVIDIA has run. Specific deal terms (commercial spend, hardware family, multi-year commitment) are not publicly disclosed. Source: CNBC, Jan 6, 2026.

Grok Business and Grok Enterprise — enterprise tier

On December 30, 2025 xAI launched Grok Business at $30 per seat per month and Grok Enterprise for larger organizations requiring single sign-on, SCIM provisioning, audit logging, and the private “Vault” data-storage layer. The enterprise tier is the page's primary forward-revenue narrative; xAI has not disclosed enterprise ARR or seat counts but has framed Grok Enterprise as the load-bearing growth path on the call accompanying the Series E close.

Embedded-Grok customers and API distribution (2026)

Through mid-2026 xAI's news feed added a run of named commercial customers embedding Grok models in their own products: Vapi (Grok Voice powering Vapi's agent platform, Jun 3), Gopuff (the “Go” shopping assistant, Jun 9), eToro (real-time market sentiment in the Tori agent, Jun 10), and Interactive Brokers (market exploration with Grok, Jun 25) — plus third-party distribution of Grok models via Amazon Bedrock (Jun 17) and Databricks (Jun 18). Each is xAI-announced (Confirmed as a relationship); none carries disclosed dollar terms.

Reported wall-street pilots (May 2026)

In May 2026 Bloomberg reported that Morgan Stanley and Apollo Global Management had each begun internal testing of Grok alongside competing AI assistants, as xAI pushed to broaden its financial-services customer base. These are pilots, not announced production deployments; surfaced here as Reported.

Acquisitions

xAI's M&A history is dominated by the two share-conversion mergers covered in the callouts at the top of this page. xAI has not announced any standalone acqui-hires, IP acquisitions, or product-line buyouts on its own news feed.

xAI's all-stock combination with X Corp. — March 28, 2025

xAI was the acquirer; X became a subsidiary of the new xAI Holdings parent. xAI at $80B, X at $33B, combined ~$113B. See callout above · leadership detail on the leadership page.

SpaceX's all-stock acquisition of xAI — February 2, 2026

SpaceX was the acquirer; xAI Holdings became a SpaceX subsidiary. xAI at $250B, SpaceX at $1T, combined $1.25T. See callout above · leadership detail on the leadership page.

Undisclosed business-combination equity issuance — February 2025 (Form D only)

A fourth X.AI Corp. Form D filed February 25, 2025 (SEC EDGAR, CIK 2002695, accession 0002002695-25-000001) discloses a $37,652,852 Rule 506(b) equity offering, of which $27,692,709 had been sold to 28 investors (first sale February 10, 2025), with the filing's business-combination box checked — i.e. equity issued in connection with a business-combination transaction. xAI announced no corresponding acquisition on its news feed, and no contemporaneous reporting has matched the issuance to a named deal; the page surfaces the filing's facts and leaves the counterparty as not-publicly-disclosed.

Beyond the two mergers and the Form-D-disclosed February 2025 issuance, no other xAI acquisitions have been publicly announced. Parent-level M&A since the merger — including SpaceX's June 16, 2026 agreement to acquire Cursor-maker Anysphere in a $60 billion all-stock deal that pairs Cursor with Colossus compute, which SpaceX said on August 4, 2026 it expects to close in the third quarter of 2026 — belongs to SpaceX Financials rather than this page. The merger agreement is filed as Exhibit 2.2 to SpaceX's Q2 2026 Form 10-Q.

Read these primary sources

xAI is private and files no periodic reports with SEC EDGAR (no DEF 14A, 10-K, 10-Q, 8-K, or S-1), but “X.AI Corp.” (CIK 2002695) has filed four Regulation D exempt-offering notices (Form D), linked below. Those plus xAI's own news feed, Musk's X account for announcements that route through him personally, the Earthjustice / SELC / NAACP case pages on the Southaven Clean Air Act litigation, and contemporaneous reporting on the two mergers and the named-customer commitments are the load-bearing primary sources.

xAI's own surface — news feed, Colossus page, and the enterprise / government product surfaces

The canonical company-side source. xAI's news feed at x.ai/news carries the May 2024 Series B announcement, the December 2024 Series C announcement, the January 2026 Series E close, the February 2026 “xAI joins SpaceX” merger post, the July 2025 xAI for Government suite launch, the November 2025 HUMAIN-Saudi partnership announcement, the December 30, 2025 Grok Business / Grok Enterprise launches, and the May 2026 Anthropic compute partnership.

# Company surface
https://x.ai/
https://x.ai/news
https://x.ai/about

# Memphis Colossus — the primary training cluster
https://x.ai/colossus

# July 12, 2023 launch announcement (founder roster + mission framing)
https://x.ai/news/announcing-xai

# Funding-round and merger announcements
https://x.ai/news/series-b                    # May 26, 2024 Series B
https://x.ai/news/series-c                    # Dec 23, 2024 Series C
https://x.ai/news/series-e                    # Jan 6, 2026 Series E
https://x.ai/news/xai-joins-spacex            # Feb 2, 2026 SpaceX merger announcement

# Product / customer surfaces called out on this page
https://x.ai/news/grok-business               # Dec 30, 2025 Grok Business + Grok Enterprise launch
https://x.ai/news/government                  # Jul 14, 2025 xAI for Government suite launch
https://x.ai/news/onegov                      # Sep 25, 2025 GSA OneGov expansion
https://x.ai/news/us-gov-dept-of-war          # Dec 22, 2025 Department of War selection
https://x.ai/news/grok-goes-global            # Nov 2025 HUMAIN Saudi partnership
https://x.ai/news/el-salvador-partnership     # Dec 11, 2025 El Salvador education program
https://x.ai/news/anthropic-compute-partnership # May 6, 2026 Anthropic on Colossus 1

Musk's X account — merger announcements and funding-round confirmations routed through here

Musk's X account is functionally part of xAI's primary-source set under Musk-personal-control governance — the March 2025 X-merger announcement, several Colossus-milestone tweets, and a meaningful share of round-confirmation posts route through it rather than the company press feed.

# Musk's X account
https://x.com/elonmusk

# March 28, 2025 xAI–X merger announcement
https://x.com/elonmusk/status/1905731750275510312

SEC EDGAR — six Form D notices across two xAI entities, plus the parent's periodic reports

xAI files no periodic SEC reports of its own, but two xAI entities have filed Form D exempt-offering notices: “X.AI Corp.” (CIK 2002695) for the December 2023 raise, the May 2024 Series B, the December 2024 Series C, and a small February 2025 business-combination issuance; and the post-X-merger parent “X.AI Holdings Corp.” (CIK 2079267) for the mid-2025 equity round and the January 2026 Series E. Note that dozens of unrelated third-party investment vehicles carry “xAI” in their EDGAR company names (“xAI SPV, LLC,” “xAI Fund a Series of CGF2021 LLC,” and similar); the two entities above are distinguishable by their 1450 Page Mill Road filer address and by listing Elon Musk and Jared Birchall as related persons. Since February 2026, parent SpaceX's 10-Q, 10-K, 8-K, and S-1 filings are the highest-grade source for xAI revenue, capex, debt, and litigation.

# All X.AI Corp. filings (CIK 2002695) — four Form D
https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0002002695&type=D

# Dec 5, 2023 Form D — $1B offering, ~$135M sold (first sale Nov 29, 2023)
https://www.sec.gov/Archives/edgar/data/2002695/000200269523000002/xslFormDX01/primary_doc.xml

# May 28, 2024 Form D — Series B
https://www.sec.gov/Archives/edgar/data/2002695/000200269524000001/0002002695-24-000001-index.htm

# Dec 5, 2024 Form D — Series C
https://www.sec.gov/Archives/edgar/data/2002695/000200269524000003/xslFormDX01/primary_doc.xml

# Feb 25, 2025 Form D — $37.7M business-combination issuance, $27.7M sold to 28 investors
https://www.sec.gov/Archives/edgar/data/2002695/000200269525000001/primary_doc.xml

# All X.AI Holdings Corp. filings (CIK 2079267) — two Form D
https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0002079267&type=D

# Aug 6, 2025 Form D — $6.39B offering, $5.32B sold to 7 investors (first sale Jun 18, 2025)
https://www.sec.gov/Archives/edgar/data/2079267/000089183625000046/xslFormDX01/primary_doc.xml

# Jan 6, 2026 Form D — Series E: $20.0B offering, $16.6B sold to 131 investors
https://www.sec.gov/Archives/edgar/data/2079267/000089183626000001/xslFormDX01/primary_doc.xml

# Parent SpaceX (CIK 1181412) — xAI consolidates in as the "AI segment"
https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001181412&type=10-Q
https://www.sec.gov/Archives/edgar/data/1181412/000162828026052535/spcx-20260630.htm   # 10-Q, Q2 2026
https://www.sec.gov/Archives/edgar/data/1181412/000162828026052515/earningsreleaseq22608042.htm # Q2 2026 results, AI segment table

# Solaris Energy Infrastructure (CIK 1697500) — Stateline / MZX Tech on-site generation
https://www.sec.gov/Archives/edgar/data/1697500/000162828026054349/sei-20260630.htm

Funding rounds and the two mergers — contemporaneous reporting

For rounds and corporate events xAI has not published in primary-source form (Series C, the mid-2025 debt-and-equity package, the September 2025 Series D, and the February 2026 SpaceX-merger deal mechanics), the load-bearing sources are the wire-service and trade-press posts below. The two merger callouts at the top of this page link these inline.

# Feb 3, 2026 — SpaceX–xAI merger reported as the largest tech merger ever
https://www.cnbc.com/2026/02/03/musk-xai-spacex-biggest-merger-ever.html

# Jan 6, 2026 — $20B Series E at $230B post-money (Nvidia / Cisco strategic)
https://techcrunch.com/2026/01/06/xai-says-it-raised-20b-in-series-e-funding/
https://www.cnbc.com/2026/01/06/elon-musk-xai-raises-20-billion-from-nvidia-cisco-investors.html

# Sep 19, 2025 — $10B Series D (reported) at $200B
https://www.cnbc.com/2025/09/19/musks-xai-10-billion-at-200-billion-valuation.html
https://www.bloomberg.com/news/articles/2025-09-19/musk-s-xai-raises-10-billion-at-200-billion-valuation

# Dec 25, 2024 — Series C $6B at $50B (reported)
https://techcrunch.com/2024/12/25/elon-musks-xai-lands-billions-in-new-cash-to-fuel-ai-ambitions/

# May 26–27, 2024 — Series B $6B at $24B
https://fortune.com/2024/05/27/elon-musk-xai-raise-6-billion/
https://www.wamda.com/en/2024/05/kingdom-holding-participates-musk-xai-6-billion-series-b-round

Memphis Colossus — buildout coverage and the Southaven litigation docket

The Colossus 1 / Colossus 2 GPU + power-capacity timeline is sourced to the Introl / SemiAnalysis / Data Center Dynamics trade press; the Southaven gas-turbine plant litigation is sourced to the Earthjustice and SELC case pages, the NAACP press release, the federal dockets on CourtListener, contemporaneous CNBC reporting on the April 14, 2026 complaint filing, the April 22, 2026 Democracy Now long-form coverage, and the June 2026 coverage of the Haley nuisance class action.

# GPU + power buildout
https://introl.com/blog/xai-colossus-2-gigawatt-expansion-555k-gpus-january-2026
https://newsletter.semianalysis.com/p/xais-colossus-2-first-gigawatt-datacenter
https://www.datacenterdynamics.com/en/news/xai-elon-musk-memphis-colossus-gpu/

# Clean Air Act litigation — case pages
https://earthjustice.org/case/xai-illegal-gas-power-plant-data-center-colossus
https://www.selc.org/news/xai-built-an-illegal-power-plant-to-power-its-data-center/
https://naacp.org/articles/naacp-sues-xai-illegal-pollution-data-center-power-plant

# Clean Air Act litigation — contemporaneous reporting
https://www.cnbc.com/2026/04/14/elon-musk-xai-memphis-data-centers.html
https://www.democracynow.org/2026/4/22/memphis_xai_data_center_pollution_keshaun

# Federal dockets (N.D. Miss.) — NAACP Clean Air Act suit + Haley nuisance class action
https://www.courtlistener.com/docket/73188848/national-association-for-the-advancement-of-colored-people-v-xai-corp/
https://www.courtlistener.com/docket/73458129/haley-v-xai-corp/
https://www.classaction.org/news/xai-spacex-hit-with-class-action-lawsuit-over-data-center-power-plant-noise-in-southaven-mississippi

Federal customers, strategic partnerships, and the Colossus compute-rental contracts

The July 14, 2025 DoD $200M-ceiling contract and the parallel multi-vendor framework are sourced to Axios and Defense News; the HUMAIN $3 billion Series E minority stake is sourced to Data Centre Magazine; the post-merger Colossus compute-rental contracts are sourced to SpaceX's June 5, 2026 SEC free-writing prospectus (Google) and TechCrunch / CNBC reporting (Anthropic terms; Reflection AI); the NVIDIA customer-concentration context is cross-referenced to the Mungomash NVIDIA financials page.

# Pentagon contract (Jul 14, 2025)
https://www.axios.com/2025/07/14/xai-pentagon-grok-contract
https://www.defensenews.com/pentagon/2025/07/15/pentagon-taps-four-commercial-tech-firms-to-expand-military-use-of-ai/

# HUMAIN Saudi partnership $3B minority stake (Feb 2026)
https://datacentremagazine.com/news/humain-invests-us-3bn-in-xai-as-saudi-ai-data-centres-expand

# Colossus compute-rental contracts (post-merger, SpaceX-side)
https://techcrunch.com/2026/05/20/anthropic-will-pay-xai-1-25-billion-per-month-for-compute/    # Anthropic terms, May 20, 2026
https://www.sec.gov/Archives/edgar/data/1181412/000162828026041150/spacexagreementfwp.htm        # Google contract, SpaceX SEC FWP, Jun 5, 2026
https://www.cnbc.com/2026/06/22/spacex-ai-colossus-data-center-reflection.html                   # Reflection AI deal, Jun 22, 2026

Sibling Mungomash pages

The leadership-side mechanics of the two mergers, the Musk-personal-control governance subsection, and the Musk political-entanglement thread live on the sibling leadership page. Grok product specifications live on the Grok versions page. NVIDIA's customer-concentration framing lives on the NVIDIA financials page.

# Leadership-side mechanics + governance + political-entanglement
/orgs/xai/leadership/

# Grok model family timeline and capability arc
/ai/grok/versions/

# NVIDIA customer-concentration cross-reference
/orgs/nvidia/financials/

Methodology & data sources

Primary-vs-reported source discipline. Every value-bearing claim on this page is labeled Confirmed (sourced to xAI's own news feed, the xAI blog, or Musk's X account where the announcement routed through him personally rather than the company press feed) or Reported (sourced only to contemporaneous reporting from CNBC, Bloomberg, Reuters, Fortune, TechCrunch, The Information, Axios, Defense News, or similar). The methodology footer's first job is to keep this distinction visible to visitors, since reporter coverage of fast-moving private companies frequently surfaces dollar amounts and valuations the company itself has not formally confirmed.

SEC EDGAR — six Form D notices across two entity names, no periodic reports of xAI's own. xAI files no 10-K, 10-Q, 8-K, S-1, or DEF 14A under its own name. It has filed four Regulation D exempt-offering notices under “X.AI Corp.” (CIK 2002695): a December 2023 Form D ($1B offering, ~$135M sold, first sale Nov 29, 2023), a May 2024 Form D (Series B), a December 2024 Form D (Series C), and a February 2025 Form D (a ~$37.7M business-combination equity issuance; see the acquisitions section). It has filed two more under the post-X-merger parent “X.AI Holdings Corp.” (CIK 2079267): an August 2025 Form D (the mid-2025 equity round) and a January 2026 Form D (Series E). All six are primary SEC filings and confirm the corresponding events. Two nets are required to find them. EDGAR full-text search does not reliably index Form D structured filings, so each refresh queries the CIK-2002695 and CIK-2079267 submissions endpoints directly and runs an EDGAR company-name browse for “xai” / “x.ai” to catch filings under entity names the page does not yet know about — the second net is what surfaced CIK 2079267. That browse also returns roughly forty unrelated third-party SPVs and funds whose names merely contain “xAI”; they are excluded on the filer address (xAI's entities file from 1450 Page Mill Road, Palo Alto) and the named related persons (Elon Musk, Jared Birchall), never on the name alone.

Revenue — reporter estimates through mid-2026, SEC-filed from August 2026 forward. xAI has never published recognized GAAP revenue, ARR by product surface, gross margin, operating margin, free cash flow, or burn rate on its own news feed, and that has not changed. What changed on August 4, 2026 is that parent SpaceX filed its first quarterly report as a public company, breaking out an AI segment whose revenue, operating loss, capex, and nameplate compute are now disclosed on an SEC basis. The page's revenue cards moved from Reported to Confirmed on that filing. The prior reporter-sourced figures (~$350M FY2025 revenue, ~$500M annualized at mid-2026, a ~$2B FY2026 target) are retained as narrative context rather than as counters, because they measured xAI standalone while the segment measures xAI + X including compute rentals — the two are not comparable, and the newer figures do not retroactively falsify the older ones. Colossus compute-rental contract values remain surfaced per-deal in the customer / partner cards: the Google terms and the $14.1 billion aggregate of Q2 2026 Cloud Services Agreements are SEC-disclosed; the Anthropic and Reflection AI per-deal terms are reporter-sourced.

Merger marks vs. funding-round marks. The two amber-bordered callouts at the top of this page describe share-conversion events, not fresh-capital raises. The implied xAI valuation at each merger ($80B at the March 2025 X merger; $250B at the February 2026 SpaceX merger) is plotted on the valuation arc as a filled point with an amber ring to mark the distinction.

Memphis Colossus capex. xAI has still never published a cumulative Colossus capex total itself, but its parent reports the spend quarterly: SpaceX's AI-segment capital expenditures were $15,828M in Q2 2026 and $23,551M for the first half of 2026 (against $749M in Q2 2025), and nameplate compute reached 1.4 GW at June 30, 2026. Those are the load-bearing capex and power figures on this page. Hardware-milestone counts (GPU counts, the 2 GW site-power claim) still come from xAI's news feed and Musk's X account; the ~$18 billion GPU-outlay figure for the January 2026 555K-GPU mark comes from trade press estimating per-GPU spend at GB200/GB300 list prices and stays labeled Reported in the body of the timeline. Where a Musk-announced site-power figure and an SEC-filed nameplate-compute figure disagree, the page carries both and says which is which rather than reconciling them.

Southaven Clean Air Act dispute. The sub-callout in the Memphis Colossus subsection treats the NAACP / SELC / Earthjustice litigation as a corporate-events disclosure. The page does not editorialize on the merits of the Clean Air Act claims; it reports the procedural posture (Section 304 notice February 2026 → complaint April 14, 2026 → preliminary-injunction request May 6, 2026 → DOJ motion to intervene and dismiss June 15, 2026 → defendants' amended PI opposition July 13, 2026 → briefing closed on all three pending motions July 15–24, 2026 → State of Mississippi amicus brief opposing the PI → telephonic status conference August 5, 2026 → evidentiary PI hearing set for August 24, 2026), the SELC-published emissions estimates, and links to the case pages, the federal dockets, and contemporaneous reporting on both sides. Docket state is read each refresh from the CourtListener RECAP search API rather than the docket HTML page, and the district is searched for new cases naming X.AI rather than only the two the advocacy groups track. A separate June 2026 nuisance class action over the same plant (Haley v. X.AI Corp.) is surfaced in the same sub-callout.

What's intentionally not here. Computed valuation deltas / round-over-round multiples (the page surfaces the rounds and lets visitors do the math). Secondary-market tender-offer marks. Stock-pick framing or IPO-timing speculation. Cap-table specifics beyond what xAI or its investors have publicly disclosed. Editorial framing about Musk personally; the page reports facts (funding rounds, mergers, capex, environmental litigation) and cites primary sources rather than judging motives. Detailed Grok product specifications, which live on /ai/grok/versions/.

Refresh cadence. Hand-curated values are re-verified monthly against the load-bearing primary sources (x.ai/news, the Memphis Colossus page, Musk's X account, both xAI EDGAR CIKs plus an EDGAR company-name browse, parent SpaceX's periodic filings under CIK 1181412, Solaris Energy Infrastructure's filings for the Stateline / MZX Tech generation build, the two N.D. Miss. dockets, NVIDIA's most-recent 10-Q customer-concentration footnote, and the most-recent CNBC / Bloomberg / Reuters / The Information coverage). Since the merger, the parent's SEC surface carries more xAI-material financial news than xAI's own feed does, and it is walked first. xAI is fast-moving in funding (every six to twelve months historically), corporate structure (two mergers in two years), and capex disclosures; monthly is the cadence that catches new funding rounds, Colossus milestones, customer announcements, and Clean Air Act docket movements within roughly four weeks of disclosure.

Cross-references. xAI Leadership for the founders, current executive cohort, the Musk-personal-control governance subsection, and the Musk political-entanglement thread. /ai/grok/versions/ for the Grok model family timeline. SpaceX's row on the Orgs index for the parent-company profile (xAI came off the roster when the site flattened subsidiaries under SpaceX in June 2026). /orgs/nvidia/financials/ for the NVIDIA customer-concentration footnote that contextualizes xAI's role in NVIDIA's Data Center revenue.

Last updated: 2026-08-11. Hand-curated source-tag anchors: x.ai/news for xAI's own announcements, and parent SpaceX's SEC filings for the financial record.