Elon Musk's artificial intelligence startup, xAI, has raised an impressive $6 billion in a Series B funding round, positioning the company to compete with major players in the rapidly evolving AI industry.
Series B Funding Details
xAI's $6 billion Series B funding will be used to:
- Bring the company's first products to market and build advanced infrastructure
- Accelerate research and development of future technologies, with xAI making "significant strides" in AI development over the past year
- Potentially build a massive new supercomputer, the "Gigafactory of compute," in partnership with Oracle
The funding round values xAI at $24 billion post-investment, according to Musk. This positions the company to compete with industry heavyweights like Microsoft and OpenAI in the race to develop cutting-edge AI technologies.