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HomeFinanceElon Musk’s xAI raises $6 billion from Sequoia, Andreessen, and Saudi royals...

Elon Musk’s xAI raises $6 billion from Sequoia, Andreessen, and Saudi royals because it hails ‘important strides’ in AI analysis

A bunch of buyers will put up $6 billion to fund improvement of synthetic intelligence by Elon Musk’s xAI.

The corporate mentioned on its web site Sunday that the Collection B funding spherical will likely be used to take xAI’s first merchandise to market and pace up analysis. xAI mentioned it has made “important strides” throughout the previous yr in creating the expertise, which is able to proceed within the coming months.

Buyers within the newest spherical embrace Andreessen Horowitz, Sequoia Capital, Constancy Administration & Analysis, Valor Fairness Companions, Vy Capital, Saudi Prince Alwaleed Bin Talal and Kingdom Holding.

Musk wrote on the social media website X that earlier than the funding, xAI had a valuation of $18 billion.

The funding ought to assist Musk’s firm compete in a race to develop synthetic intelligence towards Microsoft and Open AI, which created Chat GPT.

Musk introduced formation of the corporate in July of final yr and launched its synthetic intelligence chatbot known as Grok in November.

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