Elon Musk’s xAI startup has raised $6 billion in Series B funding from Andreessen Horowitz, Sequoia Capital, Valor Equity Partners, Kingdom Holding and other investors. This was reported on the company’s blog.
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Funds raised will be used to bring new products to market, build infrastructure, and accelerate research and development of future technologies.
X’s Elon Musk reported that before the deal (pre-money valuation) xAI was valued at $18 billion.
xAI’s plans to close a $6 billion round at a $20 billion valuation were reported by the Financial Times in January, citing sources. In May, the newspaper clarified that the startup was close to closing the deal.
The official launch of xAI took place in July 2023. In November, the company introduced the Grok neural network for generating texts on demand. The developers noted that the robot can answer “thorny” questions that most artificial intelligence systems block.
Author:
Anastasia Marina
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
