Topics
Latest
AI
Amazon
Image Credits:ETIENNE LAURENT/AFP / Getty Images
Apps
Biotech & Health
Climate
Image Credits:ETIENNE LAURENT/AFP / Getty Images
Cloud Computing
Commerce
Crypto
Enterprise
EVs
Fintech
Fundraising
Gadgets
back
Government & Policy
Hardware
Layoffs
Media & Entertainment
Meta
Microsoft
privateness
Robotics
Security
Social
blank space
Startups
TikTok
DoT
Venture
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
reach Us
Elon Musk ’s AI inauguration , xAI , has raised $ 6 billion in a new support around , it said today , as Musk shores up capital to aggressively contend with rivals including OpenAI , Microsoft and Alphabet .
Valor Equity Partners , Vy Capital , Andreessen Horowitz , Sequoia Capital , Fidelity , Prince Alwaleed Bin Talal and Kingdom Holding are among the backers that have invest in xAI ’s Series B funding , the startupwrotein a blog post .
The funding confirmsTechCrunch‘s reporting from April that xAI was looking to heighten $ 6 billion at a pre - money evaluation of $ 18 billion . At the time , TechCrunch also reported that Musk has get a line to it that X , the social internet he now own and control , also possess a stake in xAI so will gain from whatever upside the AI kit sees .
Pre - money rating was $ 18B
Musk is one of the earliest and highest - profile enterpriser in the AI space . Tesla , a car troupe he leads , is the top EV auto maker with ego - driving technology . He is also a co - founder of OpenAI , a inauguration in which he has investedtens of million of dollars . Musk ’s love for OpenAI has waned since : In March , hesued OpenAI and its atomic number 27 - founder Sam Altmanfor allegedly betraying its mission statement and becoming a “ closed - source de facto subsidiary ” of Microsoft . He has also impeach Google ofcodingbiasinto its AI products .
After form xAI twelvemonth , Musk released its chatbot ChatGPT - rival Grok 1.0 model in November . Later , the company made the model available through a chatbot to Premium+ users — who pay $ 16 a month — on X. In April , the company released the novel Grok 1.5 fashion model and also allowedPremium users on X to reach the chatbot . Additionally , the Musk - have company previewed Grok’smultimodal capabilities in April . Earlier this yr , the companyopen source the Grok modelbut without any training code .
xAI plan to deploy the fund from the fresh financing troll to take its first Seth of products to marketplace , build advanced infrastructure and speed the research and development of future technologies , it said in itsnew web log post . The company is likely to look for partnership to introduce Grok to users beyond X.
The party — whose new backer also include mortal with whom Musk has close ties , includingKen Howery , a atomic number 27 - founder of PayPal and Founders Fund — claims that it aims to develop “ truthful ” AI systems . Still , as with other AI chatbots , Grok ’s news summary feature on X isreportedto hallucinate and render misleading information .
