The startup recently raised $5 billion in a funding round led by Sequoia Capital, Andreessen Horowitz and Qatar Investment Authority. This will bring xAI’s total funding to $11 billion in 2024 alone.
Founded in 2023, xAI aims to challenge OpenAI, which Musk co-founded in 2015 and left in 2019 due to disagreements over the direction of the company. Musk has repeatedly said that OpenAI has moved away from its nonprofit roots and recently filed a lawsuit accusing OpenAI and Microsoft of monopolistic practices.
And while xAI thrives, X continues to face financial difficulties.
Source: Ferra
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