AI
Elon Musk’s xAI raises $20 billion in Nvidia-backed funding round
Elon Musk’s artificial intelligence startup xAI announced Tuesday it has raised $20 billion in its latest funding round, surpassing its initial $15 billion target as the company accelerates development of its Grok AI models. Founded by Musk, xAI competes in an increasingly crowded generative AI market against OpenAI, Google, and Anthropic, among others. The substantial […]
Elon Musk’s artificial intelligence startup xAI announced Tuesday it has raised $20 billion in its latest funding round, surpassing its initial $15 billion target as the company accelerates development of its Grok.
Founded by Musk, xAI competes in an increasingly crowded generative AI market against OpenAI, Google, and Anthropic, among others.
The substantial funding round underscores continued investor appetite for AI ventures despite broader questions about achieving returns on the massive investments being made.
The oversubscribed round…
Source link
Continue Reading