Value between 18 and 24 billion

Artificial intelligence: Musk's xAI raises $6 billion in funding

The company: the money will be used to bring xAI's first products to market, build advanced infrastructure and accelerate research and development of future technologies

27 May 2024

Intelligenza Artificiale, 218 mila dipendenti pubblici a rischio

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Elon Musk's artificial intelligence startup xAI has raised $6 billion in a funding round backed by investors including Andreessen Horowitz and Sequoia Capital. The company announced this in a post on its blog on Sunday.

The money will be used to bring xAI's first products to market, build advanced infrastructure and accelerate research and development of future technologies. "There will be more announcements in the coming weeks," Musk said in a post on X

The race for artificial intelligence has heated up, with several investors writing large cheques for start-ups trying to compete with market leaders such as OpenAI.

Although xAI has not declared its value since the last funding round, analysts reported in the media suggest that the company is worth between USD 18 billion and USD 24 billion.