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

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Despite previous denials from Musk about xAI raising capital, the substantial Series B funding demonstrates the company’s robust growth and strategic ambitions. Musk had earlier refuted reports of xAI discussing valuations between $15 billion to $20 billion and the SEC fundraising filing by asserting, “We are not raising money right now.”

In addition to its financial achievements, xAI is actively expanding its team. The company announced it is “hiring for numerous roles and seeks talented individuals ready to join a small team focused on making a meaningful impact on the future of humanity.”

Musk further emphasized xAI’s mission on X, encouraging those who are passionate about understanding the universe through rigorous truth-seeking to join the venture.

Elon Musk founded xAI to compete with OpenAI, a company he co-founded but left in 2018.

His departure was driven by concerns that OpenAI was lagging behind Google in the AI race and potential conflicts of interest with his AI pursuits at Tesla. Musk has since been critical of OpenAI’s partnership with Microsoft, arguing it deviates from the company’s original mission of developing AI for the benefit of humanity. OpenAI has contested Musk’s claims, stating he left the board because he sought control over the company’s direction and leadership.