From RetailWire: 2024-04-26 09:45:26

Elon Musk’s xAI has secured close to $6 billion in funding, with investors expected to hold a quarter of the company. Originally set at $3 billion and $15 billion valuation, numbers swiftly altered due to high demand for investment opportunities.

Sequoia Capital, Future Ventures, and others are joining xAI’s funding round, with Elon Musk’s connections playing a significant role. Eager participants include Valor Equity Partners and Gigafund. However, specific details on additional investors remain undisclosed.

Notable figures like Steve Jurvetson, Luke Nosek, and Antonio Gracias, closely connected to Musk, are said to be involved in the funding round. The details of the participants are kept opaque to potential investors, with interactions often conducted in private Zoom calls with Elon Musk and his team.



Read more at RetailWire: Elon Musk’s OpenAI Rival xAI Is Raising $6 Billion in Funding