(Washington) startup of artificial intelligence from American billionaire Elon Musk, xAI, announced that it had raised six billion dollars in new financing for its development.
“xAI is excited to announce […] a funding round of six billion dollars, contributed in particular by Valor Equity Partners, Andreessen Horowitz, Sequoia Capital and Saudi Prince Alwaleed Bin Talal, the company declared on its website on Sunday.
“The funds raised will be used to bring xAI’s first products to market, build advanced infrastructure, and accelerate research and development of future technologies,” explains the company.
Elon Musk launched the startup in July 2023, shortly after signing a call to slow down the development of artificial intelligence.
He is one of the rare investors to have sufficient capital to compete with OpenAI (allied to Microsoft), Google or Meta in the race for artificial intelligence.
This latest round of financing brings the valuation of xAI to 24 billion dollars, if we are based on the previous valuation of 18 billion put forward by Elon Musk on his social network X.
xAI wants to focus on developing an “advanced artificial intelligence system that is truly reliable, efficient and as beneficial as possible for all humanity,” according to its press release.
The company is developing a conversational robot (chatbot in English) called Grok, which will be able to access in real time the social network X, formerly Twitter, also owned by Elon Musk.
The American billionaire has already announced to investors that he wants to build a supercomputer to develop xAI. This supercomputer should be “four times more powerful” than those used by Meta to train its artificial intelligence models, according to Elon Musk.