Elon Musk’s xAI has raised a combined $10 billion in debt and equity, Morgan Stanley said Monday. The sum consists of $5 billion through secured notes and term loans, and the other half comes from a strategic equity investment,

Musk is the owner of the automotive and clean energy company Tesla (Nasdaq: TSLA), social media platform X, and space technology company SpaceX, making him the wealthiest man in the world. Altman is the CEO of OpenAI, the AI company behind the popular ChatGPT bot. Both the entrepreneurs have hailed cryptocurrencies.

AI, Elon Musk's artificial intelligence startup, raised $5 billion in debt and $5 billion in equity. The funding will go towards xAI's efforts to build out its AI infrastructure and develop its Grok chatbot.