Elon Musk recently told investors that his artificial intelligence startup xAI is planning to build a supercomputer to power the next version of its AI chatbot Grok, with nearly 100,000 Nvidia, $NVDA, H100 chips

5/28/2024

Elon Musk's AI startup xAI has raised $6 billion in Series B funding, achieving a post-money valuation of $24 billion as investors place substantial bets on challengers to companies like OpenAI in the intensifying AI race.

According to a blog post by the company on Sunday, the funding round was supported by investors including Andreessen Horowitz and Sequoia Capital. Musk mentioned in a post on X that the company's pre-money valuation was $18 billion.

xAI stated that the funds will be used to bring its first products to market, build advanced infrastructure, and accelerate research and development of future technologies.

"There will be more to announce in the coming weeks," Musk added in another post on X, responding to the announcement of the funding.

Companies like Microsoft-backed OpenAI and Alphabet are among those leading the fierce race for generative AI dominance, driving significant investments and innovation in this rapidly evolving landscape.

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