OpenAI challenges: Startup xAI completes new round of fundraising | WPN World People News

Elon Musk's AI startup, xAI, has recently completed a new round of fundraising, raising $6 billion. This company, founded just over a year ago, is set to become the most formidable competitor to OpenAI!

According to foreign media reports, most of the investors in this round are supporters of Musk. These include Silicon Valley venture capital firms Andreessen Horowitz, Valor Equity Partners, Vy Capital, Kingdom Holdings, and Sequoia Capital. xAI further stated that the funds will be used to build cutting-edge infrastructure and launch the company's first batch of products, thereby accelerating the development of future technologies.

Musk noted that before this round of fundraising, xAI was valued at $18 billion; after the fundraising, xAI's valuation will reach $24 billion. In terms of total funds raised since its inception, xAI is now on par with Anthropic, which has raised over $8 billion.