xAI by Elon Musk Raises $6 Billion for Expansion

by Giorgi Kostiuk

a year ago

xAI, founded by Elon Musk, has successfully raised $6 billion, significantly boosting its competitive edge in the artificial intelligence market.

Success in xAI's Funding

In the latest funding round, xAI raised $6 billion. Major participants included BlackRock, Fidelity, and Sequoia Capital. Global investors from the USA, Saudi Arabia, and Qatar have also backed xAI.

Enhancing Capacity and Development

The company plans to utilize the funds to enhance its research and development capabilities further and build its base infrastructure. xAI is currently developing the Grok chatbot, powered by the supercomputer in Memphis, claimed by Musk as the world's largest.

A lot of computing is needed.Elon Musk

History with OpenAI and AI's Future

Elon Musk co-founded OpenAI but left the organization in 2018 due to differences with other founders, including the current CEO, Sam Altman. Musk has expressed concerns about potential AI threats but aims to develop safer AI systems.

The funding will bolster xAI's position in the market and aid in the development of innovative AI solutions.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

PowerPoolio Achieves SOC 2 Type I Certification

PowerPoolio has successfully achieved SOC 2 Type I certification, enhancing its credibility as a trusted partner for institutional miners.

Bayarjavkhlan Ganbaatar5 minutes ago

Pepe Coin Faces Challenges but May Recover

Pepe Coin has been struggling lately, hitting its lowest point in a year and losing close to 40% of its value over the last eleven months. However, analysts suggest that after hitting a key support level, it may experience a bounce.