Elon Musk’s AI startup xAI raised $6 billion in sequence B funding, attaining a post-money valuation of $24 billion as buyers guess large on challengers to firms like OpenAI within the intensifying AI race.
The funding spherical used to be sponsored via buyers together with Andreessen Horowitz and Sequoia Capital, the corporate mentioned in a weblog post on Sunday.
The corporate’s pre-money valuation used to be $18 billion, Musk mentioned in a post on X.
The cash might be used to take xAI’s first merchandise to marketplace, construct complicated infrastructure and boost up analysis and building of long run applied sciences, xAI mentioned.
“There will be more to announce in the coming weeks,” Musk mentioned in some other X post, based on the announcement of the funding.
Companies like Microsoft-backed OpenAI and Alphabet’s Gemini are amongst the ones main the fierce race for generative AI dominance, using important investments and innovation within the abruptly evolving panorama.
