Elon Musk‘s AI venture, xAI, has successfully raised $6 billion in its latest funding round, elevating its overall valuation to $24 billion. Key investors in this round include Andreessen Horowitz and Sequoia Capital.
According to a post by Musk on X, the company’s valuation before this funding was $18 billion. Musk also hinted that more updates will be shared in the coming weeks.
xAI is pleased to announce..https://t.co/uu0ioPgS8V
— xAI (@xai) May 27, 2024
xAI announced that the funds will be used to bring its first products to market, build advanced infrastructure, and speed up research and development of future technologies.
xAI shared that it will maintain its rapid pace of progress in the coming months, with several exciting technology updates and new products on the horizon. The recent funding will be used to launch their first products, build advanced infrastructure, and speed up research and development for future technologies.
Companies like Google and Microsoft-backed OpenAI are at the forefront of the generative AI space. Elon Musk, who was once involved with OpenAI, has since moved on.
Now, his company xAI is dedicated to developing advanced AI systems that are accurate, capable, and beneficial to humanity. xAI’s mission is to uncover the true nature of the universe.
xAI revealed that it is hiring for various positions
Along with the funding announcement, xAI revealed that it is hiring for various positions. The company is looking for talented individuals to join its small team, aiming to make a significant impact on the future of humanity. Interested candidates can apply at x.ai/careers.
xAI has developed the Grok AI chatbot and recently upgraded it with a more powerful language model, launching the improved Grok-1.5 with enhanced long-context capabilities.
