Financial reports from reputable sources like Crunchbase or PitchBook

Elon Musk's xAI Raises $6 Billion, Total Funding Reaches $12 Billion, Eyes $50 Billion Valuation with 97 Investors

Dec 5, 2024, 09:21 PM

Elon Musk's artificial intelligence company, xAI, has successfully raised $6 billion in a recent Series B funding round, bringing its total funding to $12 billion. The new funding was disclosed in a filing with the U.S. Securities and Exchange Commission (SEC) and is part of xAI's strategy to achieve a valuation of $50 billion. The funding round reportedly involved 97 investors, although specific details about them remain undisclosed. This capital influx positions xAI as a significant player in the competitive AI landscape, where concerns are growing among researchers regarding rival firms leveraging outputs from models like OpenAI's to create competing technologies.