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HomeAppleElon Musk’s xAI raises $6 billion to fund its race towards ChatGPT...

Elon Musk’s xAI raises $6 billion to fund its race towards ChatGPT and all the remaining


Elon Musk based xAI final summer season, and at the moment it introduced elevating $6 billion in funding, saying it is going to assist deliver the startup’s “first merchandise to market, construct superior infrastructure, and speed up the analysis and growth of future applied sciences.”

Thus far, xAI has launched Grok, a supposedly edgier model of OpenAI’s ChatGPT obtainable by way of X, previously often called Twitter, the place the chatbot is presently solely obtainable to X Premium subscribers.

Funding on this spherical got here from a number of sources, in keeping with xAI, together with Andreessen Horowitz, Sequoia Capital, and Saudi Arabian Prince Al Waleed bin Talal. Final yr, a submitting with the Securities and Alternate Fee confirmed that xAI was seeking to elevate as much as $1 billion in fairness investments, and some months in the past, The Monetary Instances reported it was in search of as much as…. $6 billion. Musk denied that report on the time.

Persevering with on within the AI race for chips, expertise, and know-how received’t be low-cost — huge tech companies have dumped billions into AI startups like Anthropic along with the assets Google, Apple, Amazon, Microsoft, and Meta are pouring into AI initiatives of their very own.

Outdoors of xAI and OpenAI, Musk stated he would “choose to construct merchandise outdoors of Tesla” relating to AI and robotics except he will get extra management. Tesla shareholders will begin voting this week on whether or not to revive Musk’s $56 billion pay bundle forward of its annual assembly on June thirteenth.

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