Elon Musk has raised $6 billion in investments for his startup xAI
Author - Mansur Ismagulov
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xAI raised $12 billion, including $6 billion from investors and $400 million from Kingdom Holdings. The company's valuation increased to $45 billion. The funds will be used to develop Grok, expand the data center in Memphis, and grow the team by over 100 people.
xAI, the company founded by Elon Musk, has raised $6 billion from investors, including Andreessen Horowitz, Blackrock, Fidelity, Nvidia, and AMD. Additionally, Saudi Arabia's Kingdom Holdings invested $400 million.
According to reports, xAI's valuation has risen to $45 billion. The total amount of funds raised has reached $12 billion. The new investments will be directed toward product development, infrastructure, and research.
xAI is developing its flagship model Grok, which is integrated with the social network X. The company also plans to increase the capacity of its data center in Memphis and expand its workforce, which already exceeds 100 employees.
The company is actively competing with OpenAI and Anthropic, which have also recently secured significant investments.
Source: TechCrunch
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