Elon Musk’s AI startup, xAI, has raised $6 billion in a series B funding round, pushing its post-money valuation to $24 billion. The funding was supported by notable investors such as Andreessen Horowitz and Sequoia Capital. Musk announced that the funds will be used to bring xAI’s first products to market, build advanced infrastructure, and accelerate R&D of future technologies. The pre-money valuation of the company was $18 billion.
xAI aims to challenge leading AI companies like OpenAI and Alphabet’s Gemini in the competitive generative AI sector. More updates are expected in the coming weeks.
Source: NBC NEWS
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