Expertise billionaire Elon Musk’s synthetic intelligence startup xAI raised US$6B in Sequence B financing, with a post-money valuation reaching US$24B.
The spherical attracted participation from main traders, together with Valor Fairness Companions, Vy Capital, Andreessen Horowitz, Sequoia Capital, Constancy Administration & Analysis Firm, Prince Alwaleed Bin Talal and Kingdom Holdings, amongst others.
Musk posted on X that xAI’s pre-money valuation is $18B.NASDAQ: Tesla) and SpaceX (SPACE) additionally famous that “extra information might be introduced within the coming weeks.”
The corporate, which focuses totally on the event of superior synthetic intelligence techniques, will use the funds to deliver its first merchandise to market, develop superior infrastructure and speed up analysis and improvement of future applied sciences.
The funding comes as the bogus intelligence firm hopes to launch quite a lot of know-how updates and merchandise “within the coming months.”
The corporate has made vital progress over the previous yr, launching Grok in late 2023 as a rival chatbot for Microsoft-backed OpenAI’s ChatGPT, Google’s (GOOG) (GOOGL) Bard and Microsoft’s (MSFT) Bing AI.
