Elon Musk’s artificial intelligence startup, xAI, has successfully completed a Series B funding round, raising $6 billion. These funds will be used to accelerate the development of AI tools and increase competition with OpenAI, a former ally of Musk.
About this informs Bloomberg.
Key points
- The funding round is one of the largest in the history of the AI industry.
- Musk, who previously supported OpenAI, now wants to surpass them in the development of AI.
- xAI is led by experts from DeepMind, Microsoft and Tesla.
- The company is expected to introduce its first products to the market soon.
- The investment will allow xAI to build advanced infrastructure and accelerate technology development.
Additional Information:
xAI’s pre-investment valuation was $18 billion. Investors include well-known venture capital funds Sequoia Capital and Andreessen Horowitz. xAI has already introduced a competitor to ChatGPT called Grok, integrated into the social network X.com.
Context
Musk was an early proponent of artificial intelligence, but later expressed concern about the technology’s potential risks. He urged caution and even suggested a halt to AI development. Now, after raising significant funding, xAI aims to become a leader in the field and offer an alternative to OpenAI products.
