Current:Home > reviewsElon Musk's xAI startup raises $24 billion in funding -Core Financial Strategies
Elon Musk's xAI startup raises $24 billion in funding
View
Date:2025-04-14 05:06:42
Elon Musk's AI startup xAI raised $6 billion in series B funding, reaching a post-money valuation of $24 billion as investors bet big on challengers to companies like OpenAI in the intensifying AI race.
The funding round was backed by investors including Andreessen Horowitz and Sequoia Capital, the company said in a blog post on Sunday.
The company's pre-money valuation was $18 billion, Musk said in a post on X.
The money will be used to take xAI's first products to market, build advanced infrastructure and accelerate research and development of future technologies, xAI said.
"There will be more to announce in the coming weeks," Musk said in another X post, in response to the announcement of the funding.
Tesla news:Elon Musk says Tesla aims to introduce a $25,000 model in 2025
Companies like Microsoft-backed OpenAI and Alphabet's GOOGL.O are among those leading the fierce race for generative AI dominance, driving significant investments and innovation in the rapidly evolving landscape.
veryGood! (58)
Related
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- U.S. warns of discrimination in using artificial intelligence to screen job candidates
- Royal Caribbean cruise ship passenger goes overboard on trip to Hawaii
- Netflix lost viewers for the 1st time in 10 years, says password sharing is to blame
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- U.S. accuses notorious Mexican cartel of targeting Americans in timeshare fraud
- Details of Kyle Chrisley’s Alleged Assault Incident Revealed
- Elon Musk addresses Twitter staff about free speech, remote work, layoffs and aliens
- Selena Gomez's "Weird Uncles" Steve Martin and Martin Short React to Her Engagement
- The Sweet Way Chrissy Teigen and John Legend’s Daughter Luna Is Taking Care of Baby Sister Esti
Ranking
- Questlove charts 50 years of SNL musical hits (and misses)
- One year later, the Atlanta spa shootings; plus, tech on TV
- What Elon Musk's Twitter Bid Says About 'Extreme Capitalism'
- NFL’s Damar Hamlin Supports Brother on The Masked Singer 2 Months After Cardiac Arrest
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Penn Badgley Suggests You Season 5 Could Be Its Grand Finale
- Oregon is dropping an artificial intelligence tool used in child welfare system
- The Other Two Gets a Premiere Date for Season 3
Recommendation
What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
Sudan fighting and evacuations continue as U.S. Navy ship brings more than 100 Americans to Saudi Arabia
A delivery robot creates a poetic moment in the woods of England
Proof Khloe Kardashian's Daughter True Thompson Is Taking After Kim Kardashian
A South Texas lawmaker’s 15
Canada bans China's Huawei Technologies from 5G networks
The EU will require all cellphones to have the same type of charging port
Amazon's Alexa could soon speak in a dead relative's voice, making some feel uneasy