Elon Musk’s xAI Raises $6 Billion in Series B Funding, Now Valued at $24 Billion

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With this influx of capital, xAI plans to accelerate the development and market introduction of its products.

“xAI will continue on this steep trajectory of progress over the coming months, with multiple exciting technology updates and products soon to be announced,” the company stated. The funds will be used to bring xAI’s first products to market, enhance infrastructure, and boost research and development of future technologies.

Elon Musk revealed on X (formerly Twitter) that xAI had a pre-money valuation of $18 billion before the Series B funding round concluded. He hinted at more announcements in the near future, suggesting ongoing dynamic developments within the company.

Grok Chatbot

This funding milestone follows the launch of xAI’s Grok chatbot in November, which has been integrated into the X platform for subscribers. In December, xAI disclosed in a regulatory filing with the Securities and Exchange Commission (SEC) its intent to raise $1 billion in capital from equity investors, with $134 million already secured at that time.