TLDR:
- Elon Musk’s AI start-up xAI secured $6 billion in funding with an $18 billion valuation.
- xAI plans to use the funding to take its products to market, build advanced infrastructure, and accelerate research and development.
Elon Musk’s AI start-up xAI closed a $6 billion funding round on an $18 billion valuation, challenging OpenAI, Google, and Microsoft in the AI segment. The funding round included investors like Sequoia Capital, Andreessen Horowitz, and Saudi’s Kingdom Holding. Musk emphasized pursuing truth without regard to popularity. xAI, founded a year ago, launched the Grok chatbot as a competitor to OpenAI’s ChatGPT on Musk’s social media company X. The funding will be used to bring xAI’s products to market, build infrastructure, and accelerate research and development. xAI aims to grow its workforce and is hiring for various roles.
