XAI, the artificial intelligence startup run by Elon Musk, raised a combined $10 billion in debt and equity, Morgan Stanley said. Half of that sum was clinched through secured notes and term loans, while a separate $5 billion was secured through strategic equity investment, the bank said on Monday.

Elon Musk’s artificial intelligence company, xAI, has raised $10 billion in fresh capital, according to Morgan Stanley, which handled the financing. Half of that came from secured notes and term loans,

Elon Musk’s xAI Holdings Corp. has raised $10 billion from investors to finance artificial intelligence initiatives. The deal was announced today by Morgan Stanley, which helped the company raise the funds.