Billionaire entrepreneur Elon Musk announced on Sunday that his AI startup, xAI has successfully raised $6 billion in a Series B funding round, catapulting the company’s valuation to $24 billion.
This investment marks a pivotal moment for the company, which was publicly unveiled in July 2023.
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xAI Funding
The latest funding round saw participation from notable investors including Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, and Prince Alwaleed Bin Talal along with Kingdom Holding. This diverse group of investors underscores the growing confidence in xAI’s potential to innovate and lead in the artificial intelligence sector.
