The Technology section is published with the support of Favbet Tech
xAI is now valued at $24 billion (the previous estimate was $18 billion).
Artificial intelligence startup xAI has raised $6 billion, with a valuation of $24 billion, in an investment round that included Valor Equity Partners, Vy Capital and Andreessen Horowitz, among others, according to Bloomberg. They plan to spend the collected funds on bringing the first products to the market, as well as accelerating research.
Pre-money valuation was $18B
— Elon Musk (@elonmusk) May 27, 2024
Let's remember that xAI, as an artificial intelligence company, debuted a year ago and became Elon Musk's response to the launch of ChatGPT from OpenAI. The billionaire was among the founders of the startup, but left it a few years after its founding: officially due to a conflict of interest with Tesla, and according to rumors because he was denied the position of CEO. Musk now plans to sue OpenAI, insisting that the company has failed to live up to its primary goal of developing AI for the benefit of humanity and is instead focused on making money.
Earlier, Elon Musk also signed an open letter demanding that the development of AI be suspended for six months, and as it turned out, he himself was quietly developing his own chatbot called Grok, trained on publications on Twitter and subsequently integrated into the social network.< /p> Online course on industrial engineering and effective robots from the Powercode academy. An intensive course for learning how to work with ChatGPT and other tools for professional and special tasks that will help both beginners and professionals. Sign up for a course
The xAI team is now led by ex-executives of DeepMind, Microsoft and Tesla.
Note that Microsoft invested $13 billion in OpenAI, and Amazon supported a similar AI project in Anthropic $4 billion.
The Technology section is published with the support of Favbet Tech
Favbet Tech is IT a company with 100% Ukrainian DNA, which creates perfect services for iGaming and Betting using advanced technologies and provides access to them. Favbet Tech develops innovative software through a complex multi-component platform that can withstand enormous loads and create a unique experience for players. The IT company is part of the FAVBET group of companies.