Elon Musk's XAI Raises $6 Bln In Series B Round

(RTTNews) - Elon Musk's artificial intelligence startup xAI has secured $6 billion in its Series B round to accelerate its challenge to his former allies at OpenAI.

xAI will use the funds to take its first products to market, build advanced infrastructure, and accelerate the research and development of future technologies, the company said in a blog post.

xAI noted that the new funding round was backed by Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, amongst others.

The company's pre-money valuation was $18 billion, Musk said in a post on X.