Elon Musk’s xAI secures $6B in bid to rival ChatGPT by end of year

Despite an eight-year headstart, xAI’s Grok could become a chatGPT competitor by the end of 2024, according to Musk.

Elon Musk’s artificial intelligence venture, xAI, has announced a $6 billion series B funding round.

The round saw participation from investors including Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding.

This round marks a significant milestone for xAI, raising its valuation to $24 billion just 11 months after the company’s launch in July 2023.

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