Elon Musk’s AI startup xAI raised $6 billion in series B funding, reaching a post-money valuation of $24 billion as investors bet big on challengers to companies like OpenAI in the intensifying AI race.
The funding round was backed by investors including Andreessen Horowitz and Sequoia Capital, the company said in a blog post on Sunday.
The company’s pre-money valuation was $18 billion, Musk said in a post on X.
There will be more to announce in the coming weeks
— Elon Musk (@elonmusk) May 27, 2024
The money will be used to take xAI’s first products to market, build advanced infrastructure, and accelerate research and development of future technologies, xAI said.
“There will be more to announce in the coming weeks,” Musk said in another X post, in response to the announcement of the funding.
Companies like Microsoft-backed OpenAI and Alphabet are among those leading the fierce race for generative AI dominance, driving significant investments and innovation in the rapidly evolving landscape.
—By Jahnavi Nidumolu, Reuters
Autentifică-te pentru a adăuga comentarii
Alte posturi din acest grup
A “click-to-cancel” rule, which would have made it easier f
Inbox fatigue is real. According to one analysis, the average person receives more than 120 emails a day, with some o
Tech nostalgia runs strong among Gen Z. The retro movement has made long-outdated devices desirable
For much of the AI era, intelligence has been on-demand: a user issues
Every so often, Microsoft design director Diego Baca boots up an old computer so he can play around with Windows 95 again.
Baca has made a hobby of assembling old PCs with new-in-box vin
Twitter cofounder Jack Dorsey is back with a new app that tracks sun exposure and vitamin D levels.
Sun Day uses location-based data to show the current UV index, the day’s high, and add
