The company is seen as a strong challenger to other AI companies like OpenAI and Alphabet in the intensifying AI race. Musk has hinted at more announcements in the coming weeks. The pre-money valuation of the company was $18 billion.
Key takeaways:
- Elon Musk's AI startup xAI has raised $6 billion in series B funding, reaching a post-money valuation of $24 billion.
- The funding round was backed by investors including Andreessen Horowitz and Sequoia Capital.
- The money will be used to take xAI’s first products to market, build advanced infrastructure, and accelerate research and development of future technologies.
- Companies like Microsoft-backed OpenAI and Alphabet are among those leading the fierce race for generative AI dominance.