Elon Musk’s AI company, xAI, announced a major $6 billion investment to strengthen its position against competitors like OpenAI, Google, and Microsoft. The funding round included investments from notable firms such as Valor Equity Partners, Andreessen Horowitz, and Sequoia Capital. With this capital, xAI plans to expand its team, particularly hiring engineers for its offices in Palo Alto, San Francisco, and the UK.
The funds will be used to bring xAI’s initial products to market, develop advanced infrastructure, and accelerate R&D for future technologies. The company emphasized its commitment to creating AI systems that are truthful, competent, and beneficial for humanity. xAI also hinted at upcoming technology updates and product releases, continuing its mission to understand the universe’s fundamental nature.
xAI, founded by Musk last year, launched its Grok 1.0 chatbot in November, followed by the upgraded Grok 1.5 in April. The models, accessible to Premium+ and Premium users on X, leverage real-time information and internet browsing capabilities, directly competing with OpenAI’s ChatGPT.