xAI, which launched AI chatbot Grok last November to rival OpenAI’s ChatGPT, has a valuation that is a fraction of OpenAI’s but is in line with Anthropic’s $18 billion. Meanwhile, global funding for AI startups reached $50 billion in 2023, a 9% increase from the previous year. Other tech leaders, including former Twitter CEO Parag Agrawal and OpenAI chairman Bret Taylor, are also reportedly raising funds for their own AI ventures.
Key takeaways:
- Elon Musk's AI startup, xAI, is reportedly in talks to raise up to $6 billion at a proposed valuation of $20 billion.
- xAI has already raised $135 million of its total goal, and is targeting sovereign wealth funds in the Middle East for further funding.
- xAI launched AI chatbot Grok last November to rival OpenAI’s ChatGPT, with a valuation in line with Anthropic’s $18 billion.
- Global funding for AI startups hit $50 billion in 2023, up 9% from the previous year, according to market research firm Crunchbase.