Elon Musk’s xAI raises $6 billion to fund its race towards ChatGPT and all the remainder

Elon Musk based xAI final summer season, and at this time it introduced elevating $6 billion in funding, saying it should assist convey the startup’s “first merchandise to market, construct superior infrastructure, and speed up the analysis and growth of future applied sciences.”

Thus far, xAI has launched Grok, a supposedly edgier model of OpenAI’s ChatGPT accessible through X, previously often called Twitter, the place the chatbot is presently solely accessible to X Premium subscribers.

Funding on this spherical got here from a number of sources, in line with xAI, together with Andreessen Horowitz, Sequoia Capital, and Saudi Arabian Prince Al Waleed bin Talal. Final yr, a submitting with the Securities and Change Fee confirmed that xAI was trying to elevate as much as $1 billion in fairness investments, and some months in the past, The Monetary Occasions reported it was looking for as much as…. $6 billion. Musk denied that report on the time.

Persevering with on within the AI race for chips, expertise, and know-how gained’t be low-cost — large tech corporations have dumped billions into AI startups like Anthropic along with the sources Google, Apple, Amazon, Microsoft, and Meta are pouring into AI tasks of their very own.

Outdoors of xAI and OpenAI, Musk stated he would “choose to construct merchandise outdoors of Tesla” in terms of AI and robotics until he will get extra management. Tesla shareholders will begin voting this week on whether or not to revive Musk’s $56 billion pay package deal forward of its annual assembly on June thirteenth.