Elon Musk's AI startup xAI raised $6bn in Series B funding, valuing the company at $18bn.

Elon Musk's AI startup xAI has raised $6bn in a Series B round, backed by investors like Andreessen Horowitz and Sequoia Capital. The funds will be used for product market deployment, advanced infrastructure development, and accelerating research and development for future technologies, as xAI competes against leaders like OpenAI. The company's pre-money valuation was $18bn.

May 27, 2024
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