Private Market View

xAI

Business/Productivity Software · Palo Alto, CA · Founded 2023 · Acquired/Merged (Operating Subsidiary)

PA Mark · $/share
$86
Sep 2026
Implied valuation
$198.6B
Total raised
$47.2B
Last round
Merger/Acquisition
Feb 2026

Capitalization table

4 share classes, by liquidation seniority
ClassLiq. prefIssue price
Series A
Series A-1
Series B
Series C
Class structure is public. Preferences and prices are the product.Unlock preferences + participation
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Reading xAI's cap table

Share classes are listed senior-first: in a sale or liquidation, higher-seniority preferred stock is paid its liquidation preference before junior classes and common see proceeds. A participating class takes its preference and shares in the remainder; a non-participating class chooses one or the other.

The original issue price is what investors paid per share in that class’s round — read against current secondary prices, it shows which investors are above or below water.

Frequently asked

How many share classes does xAI have?
xAI has 4 recorded share classes, listed by liquidation seniority — Series A is the most senior.
How many shares has xAI authorized?
Across its 4 recorded classes, xAI has authorized 2,862,019,333 shares.
Where does xAI's cap table come from?
Share classes are assembled from certificates of incorporation, priced-round filings, and disclosures across xAI's 9 recorded funding rounds.