Musk’s xAI Nears Funding at $18 Billion Value Soon As This Week
May 09, 2024 - bloomberg.com
Elon Musk's AI startup, X.AI Corp., is reportedly closing its funding round at a valuation of approximately $18 billion. The exact size of the round is not yet finalized, according to sources who wish to remain anonymous due to the information not being public.
The company, which produces the AI chatbot assistant Grok, was expected to raise $6 billion in this round. Participants in the funding round include Sequoia Capital, as reported by Bloomberg News.
Key takeaways:
Elon Musk's AI startup X.AI Corp. is expected to close its funding round at a valuation of about $18 billion.
The final size of the funding round has not been finalized yet.
The company, which makes the AI chatbot assistant Grok, was set to raise $6 billion in the round.
Investors in the round include Sequoia Capital, according to Bloomberg News.
