Elon Musk's artificial intelligence startup, xAI, has successfully raised $6 billion in a recent funding round, significantly boosting its valuation to $24 billion. This funding comes from notable investors, including venture capital firms like Valor Equity Partners, Andreessen Horowitz, and Sequoia Capital, as well as Saudi Prince Alwaleed Bin Talal.
In a blog post, xAI announced that the funds will be used to launch its initial products, enhance infrastructure, and accelerate research and development efforts. Musk hinted at additional announcements in the near future via his social media platform, X.
Launched in July 2023, xAI aims to create advanced AI systems that are "truthful, competent, and maximally beneficial for all of humanity." The company is developing a chatbot named Grok, which will have real-time access to X (formerly Twitter).
Musk has also revealed plans for a massive supercomputer, dubbed the "gigafactory of compute," which is expected to be at least four times larger than the largest existing GPU clusters, like those utilized by Meta for AI model training. This ambitious infrastructure project reflects Musk's intent to position xAI as a major player in the competitive AI landscape, rivaling firms like OpenAI, Google, and Meta.