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What will be the valuation of xAI at its next funding round by December 31, 2025?
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Elon Musk•xAI•A16Z•BlackRock•Fidelity•Kingdom Holdings•Lightspeed•MGX•Morgan Stanley•OIA•QIA•Sequoia Capital•Valor Equity Partners•Vy Capital•Nvidia•AMD•Colossus
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Financial disclosures or reports from financial news outlets like Bloomberg or Reuters
Story
Elon Musk's xAI Secures $6B to Boost AI Development, Targets Grok 3 and Colossus Expansion
Dec 24, 2024, 06:57 AM
Elon Musk's artificial intelligence startup, xAI, has successfully raised $6 billion in a Series C funding round, bringing its valuation to over $40 billion. The funding round saw participation from major investors including A16Z, BlackRock, Fidelity, Kingdom Holdings, Lightspeed, MGX, Morgan Stanley, OIA, QIA, Sequoia Capital, Valor Equity Partners, Vy Capital, Nvidia, and AMD. The funds are earmarked to accelerate xAI's advanced infrastructure, launch groundbreaking products for billions of users, and drive research and development toward understanding the true nature of the universe. xAI is currently training its most powerful model to date, Grok 3, and aims to expand its Colossus supercomputer from 100,000 to 200,000 Nvidia GPUs to support its AI ambitions.
View original story
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