The company said on its website on Sunday that the Series B financing round would be used to raise awareness of xAI’s early products and expedite inquiries. xAI said it has made “remarkable progress” over the past year in creating innovation, which will continue in the coming months. With record investment, Elon Musk’s xAI raises $6 billion to accelerate progress in AI.
The latest circular includes investors from Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research, Valor Equity Partners, Vy Capital, Saudi Prince Alwaleed Bin Talal and Kingdom Holding. With a recent increase in funding, Elon Musk’s xAI is ready to advance AI innovations.
Musk wrote on the social media site X that before the company, xAI had a valuation of $18 billion. Modern funding should help Musk’s company compete with Microsoft and OpenAI, creator of ChatGPT, in the race to create artificial intelligence.
