Elon Musk’s artificial intelligence startup, xAI, has raised $6 billion in a Series B funding round, backed by prominent investors including Andreessen Horowitz and Sequoia Capital, the company announced on Sunday. The funds will be used to bring xAI’s first products to market, build advanced infrastructure, and accelerate research and development of future technologies. “There will be more to announce in the coming weeks,” Musk said in a post on X, following the funding announcement.
The AI race has been intensifying, with significant investments flowing into startups aiming to compete with market leaders like OpenAI. Although xAI did not disclose its post-funding valuation, previous media reports suggested the company could be valued between $18 billion and $24 billion. Reuters could not immediately verify this valuation with xAI.