Elon Musk's xAI Valued at $50 Billion in 16 Months as OpenAI's ChatGPT Expands Features to Challenge Google

Dec 1, 2024, 01:30 PM

OpenAI is pitching a new vision for online browsing, with searches operating like a ChatGPT conversation through platforms like NLWeb and SearchGPT. The company is striking deals across industries to implement this conversational search technology, and experts state that ChatGPT is "best positioned" to challenge Google's search dominance. ChatGPT's capabilities continue to expand, featuring multilingual support in over 100 languages and code debugging accuracy of 85%. AI investments in US companies have surged from $2.3 billion in 2023 to $13.8 billion in 2024, reflecting the growing interest in artificial intelligence technologies. Elon Musk's AI venture, xAI, has achieved a valuation of $50 billion just 16 months after its launch, surpassing the amount he paid for Twitter. To expedite its growth, xAI rapidly constructed a massive new data center in just a few months, a construction speed almost unheard of for a project of this scale. In comparison, OpenAI took nine years to reach a similar valuation milestone and is currently valued at $157 billion. xAI has rapidly raised $5 billion in funds.