Elon Musk’s xAI Raises $6 Billion in New Funding
“A lot of compute is needed,” Mr. Musk Said in a Post About the Financing
The artificial intelligence company founded by Elon Musk, xAI, said on Monday that it had raised $6 billion, giving the start-up a major lift as it competes with rivals, including OpenAI. The company said on its website that it would use the money to continue building its infrastructure and accelerate research and development. BlackRock, Fidelity, Sequoia Capital and others participated in the funding round. The fund-raising could value xAI at $35 billion to $40 billion, up from $24 billion earlier this year, The New York Times previously reported.
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