A gaggle of traders will make investments $6 billion in financing the event of Elon Musk’s synthetic intelligence xAI.
The corporate stated on its web site on Sunday that the Sequence B funding spherical might be used to deliver xAI’s first merchandise to market and speed up analysis. XAI stated it has made “vital progress” within the growth of the expertise over the previous yr, which is able to 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 social media website X that xAI was valued at $18 billion earlier than the funding.
The funding ought to assist Musk compete within the synthetic intelligence race towards Microsoft and Open AI, which created Chat GPT.
Musk introduced the corporate final July and launched his AI chatbot known as Grok in November.