Elon Musk's AI company xAI raised $6bn from investors, including Saudi Prince Alwaleed Bin Talal, for AI development and market entry.

Elon Musk's AI company xAI has raised $6bn from investors, including Saudi Prince Alwaleed Bin Talal, to fund the development of AI. The company plans to use the funding to take its first products to market and accelerate research. xAI's valuation prior to the investment was $18bn. The funding will help Musk's company compete in the race to develop AI against Microsoft and Open AI, creators of Chat GPT.

May 27, 2024
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