Elon Musk’s xAI raises $6 billion in funding to support AI goals
Elon Musk’s xAI company has raised significant funding to support its artificial intelligence goals. The company aims to remain competitive in the AI space by improving the Grok model and with new strategies.
xAI announced that it raised $6 billion in funding with the participation of 97 investors. Investors included big names such as Andreessen Horowitz, Blackrock, Fidelity, Kingdom Holdings, Lightspeed, MGX, Morgan Stanley, OIA, QIA, Sequoia Capital, Valor Equity Partners, Vy Capital, Nvidia and AMD. This new funding brings xAI’s total funding to $12 billion and aims to increase the company’s valuation to $50 billion.
ARTIFICIAL INTELLIGENCE DEVELOPMENTS AND GROK
When Elon Musk founded xAI last year, the company soon launched its flagship generative AI model called Grok. While Grok supports a number of features on the X platform, it is accessible for X Premium subscribers and free users in some regions. Musk had stated that Grok had a ‘rebellious streak’ and was willing to answer ‘spicy questions’ that other AI systems rejected. Grok attracted serious attention, especially with his drawing abilities, but it also came with criticism. Because uncensored and personal content is also answered here.
While Musk criticized ChatGPT and other AI systems for being overly vigilant and politically correct, he claimed that Grok ‘seeks maximum accuracy’ and is less biased than rival models. xAI continues to work to improve Grok’s capabilities and make it faster and more efficient.