Currently, xAI is estimated at $24 billion (the previous estimate was $18 billion).
Artificial intelligence startup xAI has raised $6 billion with a valuation of $24 billion — in a round of investments with Valor Equity Partners, Vy Capital and Andreessen Horowitz, in particular, according to Bloomberg. The funds raised will be used to bring the first products to market and accelerate research.
Pre-money valuation was $18B
— Elon Musk (@elonmusk) May 27, 2024
As a reminder, xAI is an artificial intelligence company, debuted a year ago and became Elon Musk’s answer to the launch of ChatGPT by OpenAI. The billionaire was among the founders of the startup, but left it a few years after it was founded:Officially, because of a conflict of interest with Tesla, and rumor has it that he was denied the position of CEO. Currently, Musk plans to sue OpenAI, noting that the company is not living up to its primary goal of developing AI for the benefit of humanity and is instead focused on making money.
Earlier, Elon Musk also signed an open letter demanding to suspend the development of AI for six months, and as it turned out, he was quietly developing own chatbot called Grok, trained on Twitter posts and subsequently integrated into the social network.
The xAI team is currently led by execs from DeepMind, Microsoft, and Tesla.
It should be noted that Microsoft invested $13 billion in OpenAI and Amazon supported a similar AI project at Anthropic $4 billion.
«Demo made me cringe»: Elon Musk reacts to OpenAI’s GPT-4o launch
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