Elon Musk’s artificial intelligence company, xAI, has completed its Series B funding round, raising a total of $6 billion. The company announced in a statement on a recent blog post.
The statement read, “xAI is pleased to announce our series B funding round of $6 billion with participation from key investors including Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal, and Kingdom Holding, amongst others.”
xAI has said its mission is to better understand the universe through cutting-edge AI tech.
The company further said, “xAI will continue on this steep trajectory of progress over the coming months, with multiple exciting technology updates and products soon to be announced.
“The funds from the round will be used to take xAI’s first products to market, build advanced infrastructure, and accelerate the research and development of future technologies.”
OpenAI, the makers of ChatGpt and a rival to Elon Musk’s company, had its own funding round in October 2023, raising $6.6 billion, and is openly supported by tech giants such as Microsoft and Nvidia.
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