Loading...
Market
Main focus of xAI's R&D post Series B funding
5
Elon Musk•xAI•Andreessen Horowitz•Sequoia Capital•Tribe Capital•Valor Equity Partners•Fidelity•Nvidia•Grok•Saudi Arabia
Resolution / Starting Odds
Quantum computing • 25%
Neuromorphic hardware • 25%
Biocomputing • 25%
Advanced neural networks • 25%
R&D announcements or reports from xAI
Story
Elon Musk's xAI Raises $6 Billion in Series B Funding at $18 Billion Valuation
May 27, 2024, 05:49 AM
Elon Musk's artificial intelligence startup, xAI, has successfully raised $6 billion in a Series B funding round. The funding was backed by prominent venture capital firms including Andreessen Horowitz, Sequoia Capital, Tribe Capital, Valor Equity Partners, and Fidelity. The pre-money valuation of xAI was reported to be $18 billion. The newly acquired funds are earmarked for product launches, infrastructure development, and accelerating research and development of future technologies. Additionally, a significant portion of the funds is likely to be used for purchasing Nvidia's H100s. xAI's latest model, Grok-1.5V, can process visual information in addition to text capabilities. The funding also saw participation from investors in Saudi Arabia.
View original story
Similar markets
Natural Language Processing • 33%
Machine Learning • 33%
Robotics • 33%
Chatbots • 25%
Autonomous vehicles • 25%
Healthcare AI • 25%
Other AI applications • 25%
AI-Powered Tools • 33%
Supercomputing Services • 33%
Cloud Computing • 34%
Healthcare • 20%
Automotive • 20%
Finance • 20%
Retail • 20%
Energy • 20%
Valor Equity Partners • 25%
Vy Capital • 25%
Andreessen Horowitz • 25%
Sequoia Capital • 25%
Healthcare • 25%
Automotive • 25%
Finance • 25%
Entertainment • 25%
Artificial Intelligence • 25%
Quantum Computing • 25%
Biotechnology • 25%
Renewable Energy Technologies • 25%
Less than $1 billion • 25%
$1 billion to $5 billion • 25%
$5 billion to $10 billion • 25%
More than $10 billion • 25%
