xAI Raises $6 Billion in Second Round of Funding - Spiceworks (2024)

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XAI Raises $6 Billion in Second Round of Funding - Spiceworks? ›

Elon Musk's startup xAI has raised $6 billion in the second round of funding. Learn more about it. The company plans to use the new funds to build advanced infrastructure, bring its first set of products to market, and accelerate research and development of new technologies.

xAI has raised a total funding of $6.14B over 3 rounds.

X payments and Starlink integration will move X towards the trillion valuation of Meta. By the end of 2024, if Grok 3 is released and is GPT 5 class, substantial improvement over Grok 2and Grok 3 is integrated with Tesla cars then XAI should end 2024 with about $100 billion in valuation.

Elon Musk's artificial intelligence 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.

Musk's xAI raised $6 billion in a series B funding in May, fetching a post-money valuation of $24 billion. Its investors include Andreessen Horowitz and Sequoia Capital. Musk has previously said he plans for a quarter of xAI to be owned by investors in X, which he bought for $44 billion.

Elon Musk's xAi firm valued at $24 billion as investors pledge more money | CNN Business.

X.AI Corp., doing business as xAI, is an American startup company working in the area of artificial intelligence (AI). Founded by Elon Musk in March 2023, its stated goal is "to understand the true nature of the universe".

Xai (XAI) Price Prediction 2030

According to your price prediction input for Xai, the value of XAI may increase by +5% and reach $ 0.250468 by 2030.

Is xAI publicly traded? xAI remains a privately held company and cannot be accessed on major public exchanges such as NASDAQ or NYSE. Accredited investors can invest in the top private companies like xAI before they IPO via secondary marketplaces such as Hiive.

Dr. Sai Balasubramanian, M.D., J.D.

How much is a xAI worth in Elon Musk? ›

Elon Musk's xAI valued at $24bn after new finance round.

Depending on the model, the evaluation of XAI may focus on different aspects, such as complexity, interpretability, transparency, or robustness. For example, a deep neural network may be more difficult to explain than a decision tree, while a linear regression may be more transparent than a random forest.

Explainable AI (XAI) is artificial intelligence (AI) that's programmed to describe its purpose, rationale and decision-making process in a way that the average person can understand. XAI helps human users understand the reasoning behind AI and machine learning (ML) algorithms to increase their trust.

Musk Says xAI-Tesla Report 'Not Accurate'

No formal revenue-sharing or partnership has been established between Tesla and xAI, but there is already a close relationship. The startup xAI has hired a number of Tesla employees.

Elon Musk's artificial intelligence startup, xAI, could assist in the development of key Tesla initiatives and share in some of the EV maker's revenue, sources told the Wall Street Journal.

Elon Musk entered the A.I. race wholeheartedly last summer when he launched the startup xAI and hired its dozen founding members from competing tech companies like OpenAI, Google (GOOGL), DeepMind and Microsoft (MSFT).

Till date, Vertex Ventures has raised five funds, the latest one worth $541 million last year against its target of $450 million. The VC firm also has a presence in the US, China, and Israel.

Tribeca is currently making bets on early-stage New York-based startups out of its flagship $105 million fund. The new Access fund is expected to invest throughout the US, backing companies that have over $20 million in annual revenue.

So far this year, 35% of U.S. startup investment has gone to AI-related companies, per Crunchbase data. That appears to be the highest percentage on record, besting even 2023, when OpenAI secured its $10 billion Microsoft-backed financing.

More Definitions of Total Funding Amount

Total Funding Amount means the summation of the fund request amount and the match, including the value of any in- kind match.