Elon Musk is ending 2025 on a high as his xAI company’s latest filing shows it raised $6 billion in investments.
As per the filing made with the country’s Securities and Exchange Commission, investors provided a minimal value of $77,593 for each filing. However, the investors’ identities remain undercover.
Meanwhile, xAI shared later a host of names on the list. Some of them included Blackrock, OIA, Sequoia Capital, AMD, Lightspeed, Morgan Stanley, and Fidelity. That’s a huge amount of funds and brings the company’s total revenue raised up to $12 billion. The other $6B comes from this spring.
As reported by CNBC, xAI was aiming for a $50B valuation which is double the figure seen in the past six months. The Financial Times shared more on this front including how those investors taking part in the previous round were allowed to participate in this one. Also, if reports are believed to be true, investors helping fund the Twitter acquisition were the ones provided with access to nearly 25% of all of the firm’s xAI shares.
xAI only came into existence in 2023 and after its launch, we saw the firm’s Grok chatbot come into play. Now, we can share more on this front including how it powers a host of the firm’s features related to X. This entails a chatbot accessible for X Premium and free for so many others in different parts of the world.
Grok keeps making it big and if Musk had to explain the success, it was a rebellious streak. It’s literally engraved in all aspects of X and now, it’s up for grabs to all users including skilled developers who have the knowledge related to its open-source edition.
It’s also a part of Flux now which is the name given to a powerful open source image generator. So that means Grok can produce images on the X app and also analyze them. Other features include summarizing news and all kinds of trending events so wonderfully.
Other reports shared on this front include Grok handling more X functions shortly and bettering the app’s searchability. There’s clearly a lot in store for xAI, Musk shared. It plans on raising more funds by 2025.
We can add that it will not be the sole tech giant raising a lot of funds in terms of AI lab. We also know more about Anthropic securing a whopping $4B deal thanks to Amazon. This makes its total funds raised to $13.7B. Meanwhile, OpenAI managed to raise just $6.6B last month but its target is $17.9B.
Image: DIW-Aigen
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{URL}https://www.digitalinformationworld.com/2024/12/xai-raises-6-billion-as-grok-expands.html{/URL}
{Author}Dr. Hura Anwar{/Author}
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{Keywords}AI,artificial-intelligence,Business,investment,news,Social-Media,Technology,X,xai{/Keywords}
{Source}Platforms{/Source}
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