Elon Musk's xAI raises $6 billion in Series B funding, challenging OpenAI with Grok

From Time: 2024-05-27 04:35:00

Elon Musk’s startup xAI raises $6 billion in Series B funding to challenge OpenAI. Musk, cautioning about AI dangers, debuted Grok, a rival to ChatGPT on X.com. xAI, with executives from DeepMind and Tesla, plans to launch products, build infrastructure, and develop new tech with the investment. Pre-money valuation: $18 billion.

Microsoft Corp. has invested $13 billion in OpenAI, while Amazon.com Inc. put $4 billion into Anthropic. Musk’s xAI receives backing from Sequoia Capital and Andreessen Horowitz in one of the industry’s largest funding rounds. The investment aims to accelerate AI development and bring products to market.



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