Today's Edition
Washington (dpa)
Elon Musk's artificial intelligence startup xAI has raised $6 billion in fresh funding.
The series B funding round aims to intensify its challenge against his former colleagues at OpenAI. Musk's xAI will use the funds to take its first products to market, build advanced infrastructure, and accelerate the research and development of future technologies, the company said in a blog post.
It noted that the new funding round was backed by Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, and Fidelity Management & Research Company, among others.
The company's pre-money valuation was $18 billion, Musk said in a post on X.
