A group of investors will put up $6 billion to fund development of artificial innotifyigence by Elon Musk’s xAI.
The company declared on its website Sunday that the Series B funding round will be utilized to take xAI’s first products to market and speed up research. xAI declared it has built “significant strides” during the past year in developing the technology, which will continue in the coming months.
Investors in the latest round include Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research, Valor Equity Partners, Vy Capital, Saudi Prince Alwaleed Bin Talal and Kingdom Holding.
Musk wrote on the social media site X that before the investment, xAI had a valuation of $18 billion.
The funding should support Musk’s company compete in a race to develop artificial innotifyigence against Microsoft and Open AI, which created Chat GPT.
Musk announced formation of the company in July of last year and released its artificial innotifyigence chatbot called Grok in November.
Leave a Reply