Elon Musk’s xAI Secures $6 Billion in Series B Funding, Boosting Valuation to $24 Billion
In a series B funding round, Elon Musk’s xAI secured $6 Billion, increasing the company’s worth to $24 billion.
The business revealed on Sunday that the money will be utilized to construct cutting-edge infrastructure, launch xAI’s initial products, and quicken the creation of new technologies.
Valor Equity Partners, Vy Capital, Sequoia Capital, Andreessen Horowitz, Fidelity Management & Research Company, Prince Alwaleed Bin Talal, and Kingdom Holding are some of the major investors.
According to the company, xAI is creating cutting-edge AI systems that are “truthful, competent, and maximally beneficial for all of humanity.” The business stated that comprehending the “true nature of the universe” is its purpose.
For the company that was founded in July of last year, the most recent investment announcement is another important step. Grok-1, an AI created by xAI and based on the “Hitchhiker’s Guide to the Galaxy,” was published in November. It can answer practically any query and even recommend which questions to ask.
According to a company release, “Grok is designed to answer questions with a bit of wit and has a rebellious streak, so please don’t use it if you hate humor.”
Subsequent models included an enhanced version with extended context features and an additional one that integrated image comprehension into the system.
