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Will xAI's valuation hit $30 billion by the end of 2024?
5
Elon Musk•xAI•Andreessen Horowitz•Sequoia Capital•Tribe Capital•Valor Equity Partners•Fidelity•Nvidia•Grok•Saudi Arabia
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Yes • 50%
No • 50%
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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.
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