Elon Musk’s AI startup xAI has received another $6 billion in funding, according to filings with the U.S. Securities and Exchange Commission (SEC). The total amount of investments attracted by the company reached 12 billion dollars.
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97 investors participated in the latest round, whose names are not revealed. The lowest bid was 77.5 thousand dollars.
Previously in November, CNBC and The Wall Street Journal reported that xAI could be valued at $50 billion as part of a new $6 billion investment round. According to the WSJ, investment funds Valor Equity Partners, Sequoia Capital and Andreessen Horowitz planned to participate. the agreement, as well as Qatar’s sovereign wealth fund QIA.
According to the Financial Times, participation in the round was only available to investors who invested in xAI in May 2024. The company then raised $6 billion from Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity, Prince Alwaleed Bin Talal and Kingdom Holding.
The company will use the funds received to develop artificial intelligence, including expanding the capabilities of its Colossus supercomputer, located in Memphis, Tennessee. It currently houses 100,000 GPUs, which are used to train the Grok chatbot. xAI intends to increase its number to at least one million.
The company has been testing a free version of Grok on social network X since early November. The chatbot is available to owners of a paid X Premium subscription starting at $8 per month. Musk’s neural network can communicate, answer user questions, and write code.
The entrepreneur created xAI in July 2023. The company employs former employees of DeepMind, Google Research, Microsoft Research and Tesla.
Author:
Mikhail Zelenin
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.
