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Musk's xAI to Close $6 Billion Funding Round at $18B Valuation This Week

May 9, 2024, 10:05 AM

Elon Musk's artificial intelligence startup, xAI Corp., is poised to finalize a significant funding round, potentially valuing the company at approximately $18 billion. The funding round, which could close as soon as this week, is expected to raise up to $6 billion. Sequoia Capital is among the participants in this round. The AI startup, known for its AI chatbot Grok, has attracted considerable attention in the tech and investment communities.