Elon Musk’s xAI Completes $6 Billion Funding Round With $18 Billion Valuation

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Elon Musk's xAI announced a $6 billion funding round earlier today that saw participation from Middle Eastern and Western investors. xAI's primary product is its Grok chatbot, which has sought to differentiate itself from other chatbots like Google's Bard and OpenAI's ChatGPT. According to xAI, the funds from the latest round will be used to expand its A.I. capacity through infrastructure investments and develop systems that are "maximally beneficial for all of humanity."

xAI Moves Ahead To Establish Itself In A Saturated A.I. Software Industry

Ever since ChatGPT was publicly released and users were impressed with its ability to generate life like responses, other A.I. chatbots have also become live. Two of the most well known among these are Google's Bard and Musk's Grok. Grok has already been rolled out to premium users of Musk's social media platform X and allows users to submit a wide variety of queries.

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Musk shared details of the latest round, adding that xAI's pre-money valuation was $18 billion for its latest funding round. OpenAI's ChatGPT and the resulting turbulence at the firm have meant that the industry has become quite controversial. Throughout this month, OpenAI has had to defend itself against controversy surrounding its employee contracts, with former board members also commenting on the firm's processes.

Musk aims to create a different A.I. model with xAI by enabling Grok to deliver responses that are capable of surprising users. He regularly shares Grok's output on his X page, which is one of the widely followed social media accounts in the world.

Being the serial entrepreneur that he is, Musk works with several companies simultaneously. His two most successful firms so far are SpaceX and Tesla, and the billionaire also