A gaggle of buyers will put up $6 billion to fund growth of synthetic intelligence by Elon Musk’s xAI.
The corporate stated on its web site Sunday that the Collection B funding spherical can be used to take xAI’s first merchandise to market and pace up analysis. xAI stated it has made “significant strides” through the previous yr in creating the know-how, which can proceed within the coming months.
Buyers within the newest spherical embody Andreessen Horowitz, Sequoia Capital, Constancy Administration & Analysis, Valor Fairness Companions, Vy Capital, Saudi Prince Alwaleed Bin Talal and Kingdom Holding.
Musk wrote on the social media website X that earlier than the funding, xAI had a valuation of $18 billion.
The funding ought to assist Musk’s firm compete in a race to develop synthetic intelligence towards Microsoft and Open AI, which created Chat GPT.
Musk introduced formation of the corporate in July of final yr and launched its synthetic intelligence chatbot known as Grok in November.
