Currently, xAI is valued at $24 billion (the previous valuation was $18 billion).
The xAI artificial intelligence startup raised $6 billion with a valuation of $24 billion in an investment round involving Valor Equity Partners, Vy Capital, and Andreessen Horowitz, according to Bloomberg. The funds raised are planned to be spent on bringing the first products to the market and accelerating research.
Pre-money valuation was $18B
— Elon Musk (@elonmusk) May 27, 2024
Recall that xAI, as an artificial intelligence company, debuted a year ago and became Elon Musk's response to the launch of ChatGPT by OpenAI. The billionaire was among the founders of the startup, but left it a few years after its founding: officially – due to conflicts of interest with Tesla, and rumored – due to being denied the CEO position. Musk now plans to sue OpenAI, insisting that the company does not fulfill its primary goal of developing AI for the benefit of humanity, and instead, is focused on making money.
Earlier, Elon Musk also signed an open letter demanding a halt to AI development for six months, and secretly developed his own chatbot called Grok, trained on Twitter posts and later integrated into the social network.
The xAI team is currently led by former executives from DeepMind, Microsoft, and Tesla.
It is worth noting that Microsoft invested $13 billion in OpenAI, and Amazon supported a similar AI project at Anthropic with $4 billion.
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