Elon Musk's AI startup, xAI, has secured $6 billion in funding from various investors, including venture capitalists, chipmakers, and investment funds from Saudi Arabia and Qatar. This latest round brings xAI's total funding to $12 billion, propelling its valuation to an estimated $50 billion. The company plans to utilize the funds to develop groundbreaking products and accelerate research in artificial intelligence.
South Africa-born billionaire tech mogul Elon Musk 's startup xAI said it had raised $6 billion from investors in its latest funding round. Image: Apu Gomes / AFPSouth Africa-born billionaire tech mogul Elon Musk ’s startup xAI said it had raised $6 billion from investors in its latest funding round.South Africa-born billionaire tech mogul Elon Musk 's startup xAI said it had raised $6 billion from investors in its latest funding round.
Musk has repeatedly warned that AI poses a risk to human civilisation, but he is pushing hard for a bigger slice of investment in the sector and xAI already raised $6 billion in May. It would also “accelerate the research and development of future technologies enabling the company’s mission to understand the true nature of the universe”.and is a chief backer of US president-elect Donald Trump, wrote on his X account that “a lot of compute is needed” to power AI products.He launched the company in July 2023 shortly after he signed an open letter calling for a pause in the development of powerful AI models.
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