close
close
blog

Elon Musk’s xAI raises $6 billion to fund its race against ChatGPT and everything else

Elon Musk founded xAI last summer and today announced raising $6 billion in funding, saying it will help bring the startup’s “first products to market,” build advanced infrastructure and accelerate research and development of future technologies.

So far, xAI has released Grok, a supposedly more cutting-edge version of OpenAI’s ChatGPT available through X, formerly known as Twitter, where the chatbot is currently only available to X Premium subscribers.

Funding for this round came from several sources, according to xAI, including Andreessen Horowitz, Sequoia Capital, and Saudi Arabian Prince Al Waleed bin Talal. Last year, a filing with the Securities and Exchange Commission showed that xAI was looking to raise up to $1 billion in equity investments, and a few months ago, financial time reported that he was looking until… $6 billion. Musk denied that report at the time.

Continuing in the AI ​​race for chips, talent and technology won’t be cheap: Big tech companies have invested billions in AI startups like Anthropic, in addition to the resources that Google, Apple, Amazon, Microsoft and Meta are investing in AI projects. own.

Outside of xAI and OpenAI, Musk said he would “prefer to build products outside of Tesla” when it comes to AI and robotics, unless he gains more control. Tesla shareholders will begin voting this week on whether to restore Musk’s $56 billion pay package ahead of their annual meeting on June 13.

Related Articles

Back to top button