Elon Musk’s xAI raises $6 billion in fresh funding
:Elon Musk’s artificial intelligence startup xAI has raised $6 billion in a Series B funding spherical backed by merchants including Andreessen Horowitz and Sequoia Capital among others, the company acknowledged in a weblog put up on Sunday.
The money will be mature to take xAI’s first products to market, fabricate evolved infrastructure and scramble up examine and trend of future technologies, xAI acknowledged.
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“There’ll be extra to issue within the arriving weeks,” Musk acknowledged in a put up on X, in response to the announcement of the funding.
The AI trot has been heating up, with so much of merchants signing huge exams for beginning-united stateslooking to compete with market leaders luxuriate in OpenAI.
Though xAI did now not order what it become as soon as valued at after essentially the most up-to-date spherical of funding, assorted media reports beforehand suggested the company could perchance well be valued at between $18 billion and $24 billion.
Reuters could perchance well no longer as we bellow examine the valuation with xAI.
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Source: Reuters
