Elon Musk's xAI Posts $1.46 Bn Loss Amid Soaring AI Infrastructure Spending

• Elon Musk’s xAI reported a $1.46 billion net loss in the September quarter, up from $1 billion previously.
• The wider loss is due to accelerated spending on AI development and infrastructure, as per Bloomberg News.
• Revenue nearly doubled sequentially to $107 million, reflecting growing commercial activity.
• xAI spent approximately $7.8 billion in cash during the first nine months of the year on AI infrastructure.
• The company recently raised $20 billion in Series E funding, surpassing its initial $15 billion target.

Why It Matters: xAI faces significant losses due to massive AI infrastructure investment, despite rising revenue and new funding.