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Today: June 9, 2024
May 30, 2024
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Elon Musk’s xAI: Meet The Top Investors Fueling $24B Challenger


TLDR:

– xAI, Elon Musk’s generative A.I. startup, raised $6 billion in a venture funding round, valuing the company at $24 billion.

– xAI plans to invest in a new supercomputer using Nvidia GPUs to enhance its chatbot, “Grok.”

The generative A.I. startup, xAI, founded by Elon Musk, recently raised $6 billion in a series B venture funding round, bringing its valuation to a staggering $24 billion. The company, launched in July of 2023, is now the 12th most valuable startup globally. Despite being smaller than competitor OpenAI, which is valued at $80 billion, xAI plans to invest the funds in a supercomputer using Nvidia GPUs to enhance its chatbot, “Grok.” Investors behind xAI include big names like Andreessen Horowitz, Sequoia Capital, Cathie Wood’s Ark Investment Management, and Saudi Prince Alwaleed bin Talal. This significant funding showcases the global interest in capitalizing on the A.I. boom.

Elon Musk, who founded xAI after leaving OpenAI over disagreements on A.I. safety, serves as the CEO of the company. His personal money manager, Jared Birchall, also plays a key role in the startup. With plans to build a “Gigafactory of Compute” using Nvidia GPUs, xAI aims to solidify its position in the A.I. market and compete with other key players like OpenAI.


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