Elon Musk founded xAI last summer and today announced it is raising $6 billion in funding, which he said will help bring the startup’s “first products to market, build advanced infrastructure, and accelerate the future.” technology research and development”.
So far, xAI has launched Grok, said to be a more avant-garde version of OpenAI ChatGPT, available through X (formerly known as Twitter), the chatbot is currently only available to X Premium subscribers.
According to xAI, this round of financing came from multiple sources, including Andreessen Horowitz, Sequoia Capital and Saudi Arabia’s Prince Al Waleed bin Talal. Last year, a filing with the U.S. Securities and Exchange Commission revealed that xAI was seeking to raise up to $1 billion in equity investment, and a few months ago, financial times It is reportedly looking for… $6 billion. Musk denied the report at the time.
Continuing the AI race for chips, talent, and technology doesn’t come cheap—in addition to the resources Google, Apple, Amazon, Microsoft, and Meta pour into AI projects, big tech companies are pouring money into AI startups like Anthropic billions of dollars.
Beyond xAI and OpenAI, Musk said he would “prefer to build products outside of Tesla” when it comes to artificial intelligence and robotics unless he gets more control. Tesla shareholders will begin voting this week on whether to reinstate Musk’s $56 billion compensation package ahead of its annual meeting on June 13.
