According to PANews, Elon Musk's artificial intelligence startup, xAI, has successfully raised $6 billion in a Series B funding round. This significant financial boost has propelled the company's valuation to an impressive $24 billion.
Previously, xAI announced the completion of its $6 billion Series B funding round, with participation from investors such as a16z. Musk stated that the pre-investment valuation of xAI stood at $18 billion. The recent funding has therefore increased the company's valuation by $6 billion, reflecting a strong vote of confidence from the investment community in xAI's potential.
This news underscores the growing interest and investment in the artificial intelligence sector, particularly in startups like xAI that are spearheading innovative developments in the field. The substantial funding and the resultant surge in valuation highlight the significant strides xAI is making in the AI industry.