Join us in returning to NYC on June 5th to collaborate with executive leaders in exploring comprehensive methods for auditing AI models regarding bias, performance, and ethical compliance across diverse organizations. Find out how you can attend here.
Today, Elon Musk’s xAI startup announced a massive $6 billion round of funding.
Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, amongst others.
Musk said the funding has been raised at a pre-money valuation of $18 billion.
While it is not uncommon to see massive rounds and valuations for young startups in the AI space, this development is unique due to the sheer size of the capital involved – possibly one of the largest series B investments ever made in the category.
VB Event
The AI Impact Tour: The AI Audit
Join us as we return to NYC on June 5th to engage with top executive leaders, delving into strategies for auditing AI models to ensure fairness, optimal performance, and ethical compliance across diverse organizations. Secure your attendance for this exclusive invite-only event.
Request an invite
xAI, which has been moving aggressively with its Grok-1 model and chatbot, hopes to use the money to accelerate its work and better take on OpenAI, Anthropic, Google and others in the race for artificial generalized intelligence (AGI).
“There will be more to announce in the coming weeks,” Musk wrote on X.
There will be more to announce in the coming weeks— Elon Musk (@elonmusk) May 27, 2024
Musk’s aggressive push with xAI and Grok
Notably, Musk co-founded OpenAI alongside its current CEO Sam Altman and president Greg Brockman and others back in 2015 but broke with the company over its priorities and direction in 2018, leaving it and ultimately turning into one of its staunchest critics — specifically over its move away from open source AI models and toward “closed” or proprietary models to which it sells access.
Musk formally re-entered the generative AI space with the announcement of xAI in July last year. Since then, the company has been moving aggressively towards building advanced AI systems that are “truthful, competent, and maximally beneficial for all of humanity.”
The company launched Grok-1 in November 2023, saying the AI has been modeled after “The Hitchhiker’s Guide to th …
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Join us in returning to NYC on June 5th to collaborate with executive leaders in exploring comprehensive methods for auditing AI models regarding bias, performance, and ethical compliance across diverse organizations. Find out how you can attend here.
Today, Elon Musk’s xAI startup announced a massive $6 billion round of funding.
Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, amongst others.
Musk said the funding has been raised at a pre-money valuation of $18 billion.
While it is not uncommon to see massive rounds and valuations for young startups in the AI space, this development is unique due to the sheer size of the capital involved – possibly one of the largest series B investments ever made in the category.
VB Event
The AI Impact Tour: The AI Audit
Join us as we return to NYC on June 5th to engage with top executive leaders, delving into strategies for auditing AI models to ensure fairness, optimal performance, and ethical compliance across diverse organizations. Secure your attendance for this exclusive invite-only event.
Request an invite
xAI, which has been moving aggressively with its Grok-1 model and chatbot, hopes to use the money to accelerate its work and better take on OpenAI, Anthropic, Google and others in the race for artificial generalized intelligence (AGI).
“There will be more to announce in the coming weeks,” Musk wrote on X.
There will be more to announce in the coming weeks— Elon Musk (@elonmusk) May 27, 2024
Musk’s aggressive push with xAI and Grok
Notably, Musk co-founded OpenAI alongside its current CEO Sam Altman and president Greg Brockman and others back in 2015 but broke with the company over its priorities and direction in 2018, leaving it and ultimately turning into one of its staunchest critics — specifically over its move away from open source AI models and toward “closed” or proprietary models to which it sells access.
Musk formally re-entered the generative AI space with the announcement of xAI in July last year. Since then, the company has been moving aggressively towards building advanced AI systems that are “truthful, competent, and maximally beneficial for all of humanity.”
The company launched Grok-1 in November 2023, saying the AI has been modeled after “The Hitchhiker’s Guide to th …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]