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Elon Musk, CEO of SpaceX and Tesla and owner of X, formerly known as Twitter, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France, on June 16, 2023.
Gonzalo Fuentes/Reuters
xAI says the funding will be used to bring xAI’s first products to market, build advanced infrastructure, and accelerate research and development of its future technologies.
Elon Musk’s artificial intelligence startup xAI has raised $6 billion in a Series B funding round backed by investors including Andreessen Horowitz and Sequoia Capital, the company announced. Blog Post Sunday, May 26th.
xAI said the funding will be used to bring xAI’s first products to market, build advanced infrastructure, and accelerate research and development of its future technologies.
“There will be more announcements in the coming weeks,” Musk said in a post on X following the funding announcement.
The AI race is heating up, with several investors pouring huge amounts of money into startups aiming to compete with market leaders like OpenAI.
xAI did not disclose its valuation after its latest round of funding, but other media reports have valued the company at between $18 billion and $18 billion.$24 billion.
Reuters could not immediately verify the xAI rating. – Rappler.com
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“This is a very cool plug-in.”
“xAI says it will use the funding to bring xAI’s first products to market, build out its advanced infrastructure, and accelerate research and development of its future technologies…”
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Source link: https://www.rappler.com/technology/elon-musk-xai-raises-fresh-funding-may-26-2024/
