Home Science Technology Elon Musk’s xAI Valued at US$24 Billion After New Funding Round

Elon Musk’s xAI Valued at US$24 Billion After New Funding Round

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Elon Musk
Elon Musk becomes the richest human being to ever live on earth

Elon Musk’s AI startup, xAI, has secured $6 billion in Series B funding, elevating its post-money valuation to $24 billion as investors place substantial bets on new contenders in the increasingly competitive AI industry.

The recent funding round saw participation from notable investors including Andreessen Horowitz and Sequoia Capital, as announced by xAI in a blog post on Sunday.

Before this round, xAI’s pre-money valuation stood at $18 billion, according to a post by Musk on X (formerly Twitter).

xAI plans to utilize the new capital to launch its initial products, develop advanced infrastructure, and speed up research and development for future technologies.

“There will be more to announce in the coming weeks,” Musk hinted in another post on X following the funding announcement.

With the AI sector rapidly evolving, companies such as Microsoft-backed OpenAI and Alphabet’s Google continue to lead the charge for generative AI supremacy, spurring significant investments and innovation.

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