xAI, founded by billionaire Elon Musk, has rapidly gained traction in the AI sector since its launch in July 2023, achieving a valuation of $50 billion and raising over $12 billion in funding. The company aims to "understand the universe" through its chatbot Grok, which features capabilities such as web search results, PDF uploads, and image understanding, trained on user data from X (formerly Twitter). xAI's founding team includes experts from Google DeepMind, OpenAI, and Tesla, including Igor Babuschkin, Manuel Kroiss, Yuhuai Wu, Christian Szegedy, Jimmy Ba, Toby Pohlen, Ross Nordeen, Greg Yang, Guodong Zhang, and Zihang Dai. The company plans to enhance its supercomputer Colossus to support AI models and compete with OpenAI and Google, following a recent $6 billion funding round that will accelerate the development of its technology and products.
https://www.businesstelegraph.co.uk/10-power-players-from-elon-musks-xai-who-are-giving-openai-a-run-for-its-money-with-grok-chatbot/Billionaire tech mogul Elon Musk's startup xAI has raised US$6 billion from investors in its latest funding round, bringing the company's valuation to an estimated US$50 billion. The firm, which is developing the Grok chatbot, received support from investors including NVIDIA, AMD, and investment funds from Saudi Arabia and Qatar. Despite concerns about AI firms burning through cash without a clear path to profitability, xAI plans to use the funding to develop new products and accelerate research into future technologies. This move comes as Musk continues to push for more investment in the sector, despite warning that AI poses a risk to human civilization.
https://www.malaymail.com/news/money/2024/12/25/elon-musks-artificial-intelligence-startup-xai-says-raised-rm27b-more-in-latest-funding-round/161014Billionaire tech mogul Elon Musk's startup xAI has raised $6 billion from investors in its latest funding round, bringing the company's valuation to an estimated $50 billion. The firm, which is developing the Grok chatbot, received support from US venture capitalists, chipmakers NVIDIA and AMD, as well as investment funds from Saudi Arabia and Qatar. Despite concerns about AI firms burning through cash without a clear path to profitability, xAI plans to use the funding to develop new products and accelerate research into future technologies. Musk has repeatedly warned about the risks of AI, but is pushing for more investment in the sector, including taking legal action against rival OpenAI, which he co-founded before leaving in 2018.
https://www.brecorder.com/news/40339355/musks-ai-startup-raises-further-6bn