Reports indicate that xAI, the artificial intelligence company owned by Elon Musk, has received funding totaling $6 billion from investors, with Sequoia Capital and Future Ventures being significant contributors.
Following this recent investment round, xAI’s business valuation now stands at $18 billion, with this group of investors acquiring a 33% stake in the company.
In the past, xAI made waves with the introduction of Grok, a chatbot tested on Elon Musk’s own social media platform, X. Musk aims to position Grok as a competitor to OpenAI’s ChatGPT, a company he co-founded, despite facing ongoing legal challenges.
Source: TechCrunch
**TLDR:** xAI, Elon Musk’s AI company, receives $6 billion in funding from investors like Sequoia Capital and Future Ventures, leading to a valuation of $18 billion and introducing Grok chatbot to compete with OpenAI’s ChatGPT.
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