xAI is an artificial intelligence company founded in 2023 by Elon Musk, building the Grok family of AI models. In early 2026, xAI was acquired by SpaceX in an all-stock deal at a $250 billion valuation, giving xAI investors a path to liquidity through SpaceX's anticipated 2026 IPO. Sacra estimates combined xAI and X revenue reached approximately $3.83 billion annualized at end of 2025. xAI stock is now part of SpaceX; accredited investors can access exposure through SpaceX shares on UpMarket, a FINRA-registered broker-dealer, with a $50,000 minimum investment.
xAI Valuation History
Event
Date
Price/Share
Valuation
Series A
Nov 2023
$1.00
~$673M
Series B
May 2024
$11.97
$24.0B
Series C
Dec 2024
$21.65
$50.0B
Tender Offer
Jun 2025
-
$113.0B
Series D
Jun 2025
$36.56
$120.0B
Series E
Jan 2026
$75.46
$250.0B
Source: Sacra, WSJ, Bloomberg. COI and secondary data.
xAI Revenue and Growth
$5M
2023
$100M
2024
$428M
Q3 2025 ann.
$3.83B
End 2025
xAI revenue includes Grok on X and enterprise API. Combined with X platform revenue per Sacra.
38x
Revenue Growth 2024-2025
$200M
Pentagon Contract
$75.46
Series E Share Price
Source: Sacra, TechCrunch, Bloomberg. Estimates not audited.
Why Investors Are Watching xAI
$250B
Acquisition Value
$3.83B
Revenue (2025)
$1B
ARR (Feb 2026)
$200M
Pentagon Contract
Acquisition
Acquired by SpaceX at $250B
All-stock deal gives xAI investors a liquidity path through SpaceX's anticipated 2026 IPO. SpaceX valued at $1.25 trillion. Combined entity consolidates Musk's AI and space ambitions around orbital data centers.
Sacra, WSJ · Feb 2026
Product
Macrohard / Digital Optimus
Joint Tesla-xAI project for AI-powered software emulation. Combines Tesla's robotics data with Grok's language capabilities.
Reuters · Mar 11, 2026
Contract
$200M Pentagon Contract
Grok approved for classified military systems, replacing Anthropic in Pentagon deployments. Marks xAI's entry into defense AI.
TechCrunch, Forbes · 2026
Fundraise
$3B HUMAIN Investment
Saudi Arabia's AI firm HUMAIN made a $3 billion investment in xAI's Series E, one of the final rounds before the SpaceX merger.
Bloomberg · Feb 18, 2026
Restructuring
Leadership Rebuild
Half of xAI's co-founders have departed. Musk says the company is "rebuilding from foundations." Hired Cursor leadership (Andrew Milich, Jason Ginsberg) to lead new product teams.
WSJ, Bloomberg · Mar 13, 2026
Product
Grok in Microsoft Copilot
Grok4.1 Fast now available in Microsoft Copilot Studio for enterprise customers, expanding xAI's distribution beyond the X platform.
Microsoft · Feb 20, 2026
Finance
$3B Debt Repaid Early
xAI bought back $3 billion of debt ahead of schedule, cleaning up the balance sheet in the run-up to the SpaceX IPO.
Bloomberg · Mar 2, 2026
Product
Grok Finance Push
Hiring bankers and credit experts to teach Grok financial analysis. Targeting Wall Street and institutional finance verticals.
Bloomberg · Mar 16, 2026
Private market investments carry meaningful risks, including illiquidity and possible total loss of capital.
xAI was acquired by SpaceX in an all-stock deal in early 2026. Investing in xAI now means purchasing SpaceX shares, which include exposure to all SpaceX products (Falcon, Starship, Starlink) plus xAI (Grok, AI models). UpMarket provides accredited investors access through secondary market transactions.
1
Verify accredited investor status
$200K+ annual income ($300K jointly) or $1M+ net worth excluding primary residence.
PPM review, fee analysis, and portfolio-fit evaluation support.
5
Fund your investment
Minimum typically $50,000. Wire or ACH. Monitor via UpMarket portal.
Note: xAI was acquired by SpaceX in early 2026. Investing in xAI now means purchasing SpaceX shares, which include exposure to all SpaceX products (Falcon, Starship, Starlink) plus xAI (Grok, AI models).
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
About UpMarket
UpMarket's mission is to unlock the private markets for individual investors.
We provide access to a range of asset classes and investment strategies that span private equity, hedge funds, crypto, real estate, and other alternative assets.
The problem
Historically, accessing private market investments had these challenges:
A large barrier to entry due to high investment minimums
Time-intensive because sourcing deals is a lot of work even if you've got a great network, and
Costly because of investment-related diligence costs, paperwork, and legal fees
The solution
UpMarket works to address these barriers for individual investors by:
Offering lower investment minimums
Sourcing and conducting diligence on opportunities for investors, empowering them to pick and choose from pre-screened opportunities
Making the investment process entirely digital, straightforward, and easy to manage from a single portal
UpMarket has brokered over $1 billion in alternative investments*
*Includes principal invested and appreciation of investments originated via the UpMarket platform based on historical trade volume and valuation estimates through December 31, 2025. Of the total, approximately $146 million is managed by UpMarket Management, with the remaining originated investments managed by affiliates. Past performance is not predictive of future results.
UpMarket Investment Curation Process
Upmarket curates and conducts diligence on every investment opportunity we offer.
We review every offering's strategy, risk management, liquidity management, fees and expenses, valuation methodology, tax matters, as well as the fund's third-party providers including legal counsel, auditor, administrator, and custodian.
We aim to offer our clients investments from disciplined managers that pursue unique strategies across an array of asset classes.
Our goal is to empower you to build a portfolio that best meets your individual Investment objectives.
Unlock the private markets today, with UpMarket.
xAI Stock FAQ
Is xAI publicly traded?
No. xAI was acquired by SpaceX in an all-stock deal in early 2026. SpaceX plans an IPO in 2026. Investing in xAI now means buying SpaceX shares, which are available to accredited investors through UpMarket.
Can I still buy xAI stock?
xAI stock converted to SpaceX shares in the all-stock acquisition. Accredited investors can access SpaceX/xAI exposure through UpMarket. Fill out the form above or sign up directly.
What is xAI's stock price?
The last primary round price was $75.46 per share (Series E, January 2026 per Sacra COI). xAI shares have since converted to SpaceX shares as part of the all-stock acquisition.
Who owns xAI?
SpaceX (parent company, since February 2026). Previously: Elon Musk (founder), a16z, Sequoia Capital, Valor Equity Partners, HUMAIN ($3B investment), Kingdom Holdings (Saudi). Tesla held a $2B stake that has since converted to SpaceX equity.
What does xAI build?
Grok AI chatbot (integrated in X/Twitter), Grok API for enterprise, Imagine (AI image generation, 50M daily images), AI models for defense (Pentagon contract). Also operates the Colossus supercomputer cluster.
Can I buy xAI shares on UpMarket?
Yes, through SpaceX shares. Since the acquisition, xAI exposure comes through SpaceX stock. Fill out the form above or sign up directly. Subject to availability. Accredited investors only.
What are the risks of investing in xAI/SpaceX pre-IPO?
Illiquid with no guaranteed exit. Concentration risk (Elon Musk key-man dependency). Leadership turnover at xAI (half of co-founders departed). No audited public financials. Regulatory and geopolitical risks. Consult your own advisors before investing.
How do pre-IPO trades work?
Accredited investors purchase from existing shareholders through secondary market platforms. SpaceX does not issue new shares in these transactions.
How do I exit my investment?
Sell on the secondary market or hold until SpaceX's anticipated 2026 IPO. Timing is unpredictable.
What is the minimum investment?
The minimum for most SpaceX/xAI offerings is $50,000. May vary by offering and share class. No fees to create an account.
What is xAI's valuation?
xAI was acquired at an implied $250 billion valuation. It is now part of SpaceX, which was valued at $1.25 trillion as of February 2026.
What is xAI's revenue?
$5M in 2023, $100M in 2024, approximately $3.83 billion annualized at end of 2025 (Sacra). $1B ARR as of February 2026 (TechCrunch). Revenue includes Grok subscriptions, Grok API, and X platform revenue.
What is Grok?
Grok is an AI chatbot built into X (formerly Twitter). SuperGrok subscription costs $30/month. Competing with ChatGPT, Claude, and Gemini. Grok4.1 Fast is also available in Microsoft Copilot Studio for enterprise.
Why did SpaceX acquire xAI?
The all-stock deal consolidates Musk's AI and space ambitions around orbital data centers. It gives xAI investors a liquidity path through SpaceX's anticipated 2026 IPO. Per Sacra, combined xAI and X revenue reached approximately $3.83 billion annualized.
Who are xAI's competitors?
OpenAI (ChatGPT, $840B valuation, $20B+ ARR), Anthropic (Claude, $380B valuation, $14B ARR), Google DeepMind (Gemini), Meta (Llama open-source models).
AI-powered search competitor. Growing alternative to Google.
Bottom Line: xAI Stock
xAI, Elon Musk's AI lab, was acquired by SpaceX in an all-stock deal at a $250 billion valuation in early 2026. The company's Grok AI chatbot is integrated into X (Twitter) and has secured a $200 million Pentagon contract for classified systems.
Combined xAI and X revenue reached approximately $3.83 billion annualized at end of 2025 (Sacra), growing 38x from $100 million in 2024. With SpaceX targeting a 2026 IPO at a potential $1.5 trillion valuation, the acquisition gives xAI investors a path to public market liquidity.
Accredited investors can access SpaceX/xAI shares through UpMarket, a FINRA-registered broker-dealer that has brokered over $1 billion in alternative investments since 2019. All private market investments involve risk, including potential loss of principal. Past performance is not indicative of future results.
Any financial forecasts or financial returns displayed on this website are for illustrative purposes only, and are not a guarantee of future results. Past performance is not indicative of future performance. Alternative investments possess a certain level of risk, and cannot guarantee investment objectives or return on capital. This website is only available to certain qualified investors.
The information on this website does not constitute investment advice. The sole basis for the purchase of any securities is the final base sale document. Investors should make their own independent evaluation and analysis, consult financial, tax, investment consultants, etc., and decide whether to invest.
Pro Forma forecasts have been deducted management fees, but may include other fees. Fund returns, dividends and other forecasts are for reference only. Investment returns may be impacted by many uncertain factors. Investors must be willing and able to withstand the risk of potential investment losses.
