Elon Musk’s AI startup xAI has raised $6 billion in its latest Series B funding round, propelling the company’s valuation to $24 billion. This substantial investment aims to accelerate the development of xAI’s first products, enhance advanced infrastructure, and boost research and development of future technologies, according to a company blog post released on Sunday.
Prominent investors in this round include venture capital firms Andreessen Horowitz and Sequoia Capital, as well as Saudi Arabian Prince Al Waleed bin Talal. Musk hinted at more developments to come, stating on X, formerly known as Twitter, “There will be more to announce in the coming weeks.”
xAI recently launched Grok, a chatbot positioned as a “supposedly edgier” alternative to OpenAI’s ChatGPT. Currently available exclusively to premium subscribers of X, Grok is designed to provide answers infused with wit and a rebellious streak. The company’s website advises users, “Grok is designed to answer questions with a bit of wit and has a rebellious streak, so please don’t use it if you hate humor!”
The race to dominate the AI sector is intensifying, with major tech conglomerates such as Google, Apple, Amazon, Microsoft, and Meta investing heavily in AI startups and projects. Microsoft’s strategic multi-billion-dollar partnership with OpenAI underscores its commitment to AI advancement. Meanwhile, OpenAI’s CEO, Sam Altman, is reportedly seeking additional funding to revolutionize the global chip industry.
Elon Musk, who co-founded OpenAI, has expressed concerns over the company’s direction, alleging that it has deviated from its original mission to serve humanity’s interests. Musk’s legal actions against OpenAI highlight the growing tensions and competitive landscape in the AI industry.
Reference(s):
cgtn.com
