Elon Musk’s artificial intelligence initiative xAI raised $6 billion in funding
Elon Musk‘s artificial intelligence initiative xAIin the last investment round 6 billion dollars collected. The search for additional funding is especially valuable for artificial intelligence companies. Because developing artificial intelligence models and keeping them afloat means constantly burning money, especially for companies like xAI that do not have a specific revenue model.
xAI raised the money it needed
This funding came from 97 different investors, according to a filing with the U.S. Securities and Exchange Commission (SEC). The total value of the company is exceeded 40 billion dollars. xAI collected $6 billion in another funding round completed last May, and its total value at that time was determined as $24 billion. The company’s main investors include names such as Sequoia Capital and Andreessen Horowitz. These investors are among the companies that support Musk’s other initiatives, such as X and Tesla.
A portion of the funds raised will go to xAI’s headquarters in Memphis, which opened earlier this year. Colossus It was transferred to the new supercomputer facility called. Local authorities this facility “The largest project in the history of Memphis” when it opened He described it as. As Musk’s footprint here grew, other major technology companies such as Nvidia, Dell Technologies and Super Micro Computer began to show interest in the region. xAI already has a chatbot called Grok. Grok is available to paid users of X.
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