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xAI Raises $6 Billion as Grok Expands Capabilities on X Platform

Dec 24, 2024 - digitalinformationworld.com
Elon Musk's xAI company has concluded 2025 with a significant achievement, raising $6 billion in investments, bringing its total funding to $12 billion. The recent funding round included notable investors such as Blackrock, OIA, Sequoia Capital, AMD, Lightspeed, Morgan Stanley, and Fidelity. The company, which was founded in 2023, has seen its valuation target double to $50 billion within six months. xAI's Grok chatbot, a key feature of the company, is integrated into the X app, offering various functionalities like image generation and news summarization. Grok is also available in an open-source edition, allowing developers to leverage its capabilities.

In the broader AI landscape, other companies are also securing substantial investments. Anthropic has raised $4 billion through a deal with Amazon, bringing its total funding to $13.7 billion. Meanwhile, OpenAI recently raised $6.6 billion, aiming for a total of $17.9 billion. These developments highlight the competitive and rapidly evolving nature of the AI industry, with xAI and its peers aggressively pursuing growth and innovation.

Key takeaways:

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  • xAI, Elon Musk's company, raised $6 billion in investments, bringing its total funding to $12 billion, with notable investors including Blackrock, Sequoia Capital, and Morgan Stanley.
  • The company aims for a $50 billion valuation, double its previous figure, and plans to raise more funds by 2025.
  • xAI's Grok chatbot, part of the firm's features, is accessible for X Premium users and is integrated with Flux, an open-source image generator.
  • Other AI companies like Anthropic and OpenAI are also raising significant funds, with Anthropic securing $4 billion from Amazon and OpenAI raising $6.6 billion recently.
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