Current：Home > MyElon Musk's xAI startup raises $24 billion in funding-DB Wealth Institute B2 Reviews & Ratings
Elon Musk's xAI startup raises $24 billion in funding
lotradecoin transparency View
Date：2024-12-25 20:53:54
Elon Musk's AI startup xAI raised $6 billion in series B funding, reaching a post-money valuation of $24 billion as investors bet big on challengers to companies like OpenAI in the intensifying AI race.
The funding round was backed by investors including Andreessen Horowitz and Sequoia Capital, the company said in a blog post on Sunday.
The company's pre-money valuation was $18 billion, Musk said in a post on X.
The money will be used to take xAI's first products to market, build advanced infrastructure and accelerate research and development of future technologies, xAI said.
"There will be more to announce in the coming weeks," Musk said in another X post, in response to the announcement of the funding.
Tesla news:Elon Musk says Tesla aims to introduce a $25,000 model in 2025
Companies like Microsoft-backed OpenAI and Alphabet's GOOGL.O are among those leading the fierce race for generative AI dominance, driving significant investments and innovation in the rapidly evolving landscape.
veryGood！ (12615)
Related
- Infamous LA officer’s gun found in $1 million watch robbery case
- King Charles III celebrates 76th birthday amid cancer battle, opens food hubs
- Don't Miss Cameron Diaz's Return to the Big Screen Alongside Jamie Foxx in Back in Action Trailer
- Manhattan rooftop fire sends plumes of dark smoke into skyline
- 2025 COLA estimate dips with inflation, but high daily expenses still burn seniors
- Smithfield agrees to pay $2 million to resolve child labor allegations at Minnesota meat plant
- Shocked South Carolina woman walks into bathroom only to find python behind toilet
- Atlanta man dies in shootout after police chase that also kills police dog
- Police identify suspect in break-in of Trump campaign office in Virginia
- The Surreal Life’s Kim Zolciak Fuels Dating Rumors With Costar Chet Hanks After Kroy Biermann Split
Ranking
- NASA still hasn't decided the best way to get the Starliner crew home: 'We've got time'
- US wholesale inflation picks up slightly in sign that some price pressures remain elevated
- Cruel Intentions' Brooke Lena Johnson Teases the Biggest Differences Between the Show and the 1999 Film
- Study finds Wisconsin voters approved a record number of school referenda
- The Sunscreen and Moisturizer Duo That Saved My Skin on a Massively Hot European Vacation
- Only 8 monkeys remain free after more than a week outside a South Carolina compound
- Blake Snell free agent rumors: Best fits for two-time Cy Young winner
- Shel Talmy, produced hits by The Who, The Kinks and other 1960s British bands, dead at 87
Recommendation
Beyoncé leads nominations for 2024 People’s Choice Country Awards
Satire publication The Onion acquires Alex Jones' Infowars at auction
What Republicans are saying about Matt Gaetz’s nomination for attorney general
Skiing legend Lindsey Vonn ends retirement, plans to return to competition
Wisconsin’s Evers urges federal judge not to make changes at youth prison in wake of counselor death
Shocked South Carolina woman walks into bathroom only to find python behind toilet
The Best Gifts for Men – That He Won’t Want to Return
The Fate of Hoda Kotb and Jenna Bush Hager's Today Fourth Hour Revealed