Official announcements from xAI or credible tech news reports

xAI Secures $6 Billion in Series C Funding, Valued Over $40 Billion, Advances Grok 3 and iOS App

Dec 23, 2024, 10:27 PM

Elon Musk's artificial intelligence startup, xAI, has successfully raised $6 billion in a Series C funding round, bringing its total funding to $12 billion this year. The round included investments from prominent firms such as Andreessen Horowitz, BlackRock, Fidelity, Kingdom Holdings, Lightspeed, MGX, Morgan Stanley, OIA, QIA, Sequoia Capital, Valor Equity Partners, Vy Capital, Nvidia, and AMD. The funding will be used to enhance xAI's AI products and infrastructure, particularly its Grok AI model and the 'Colossus' supercomputer located in Memphis, Tennessee. The latest round values xAI at over $40 billion. xAI is currently training its most advanced model yet, Grok 3, which is expected to be released by the end of the year. Additionally, xAI is testing a standalone iOS app for its Grok chatbot, previously available only to X users, expanding its accessibility. The 'Colossus' supercomputer currently utilizes 100,000 Nvidia GPUs.