Ark Invest acquired a 2% stake in Elon Musk's AI startup xAI, valued at $24B after a $6B Series B round.
Cathie Wood's Ark Invest has acquired a stake in Elon Musk's artificial intelligence startup xAI, representing about 2% of the Ark Venture Fund's holdings. xAI recently raised $6 billion in a series B funding round, which valued the company at $24 billion. The Ark Venture Fund also holds stakes in Tesla, X Corp (Musk's social media platform), and OpenAI, making up 4% of the fund's weighting.
May 29, 2024
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