xAI Raises $6 Billion in Series B Funding
xAI, a San Francisco, CA-based AI startup with the mission to understand the universe, raised $6 billion in Series B funding.
Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal, and Kingdom Holding, amongst others, also participated in the round.
The company plans to use the funds to take its first set of products to market, build advanced infrastructure, and accelerate the research and development of future technologies.
Founded in 2023 by Elon Musk, xAI is a company working on building artificial intelligence to accelerate human scientific discovery. The company primarily focuses on the development of advanced AI systems that are truthful, competent, and maximally beneficial for all of humanity. In November, the company released its first product Grok-1 on X, a generative artificial intelligence based on a large language model. An improved version, Grok-1.5, featuring long context capability, was recently announced. Additionally, Grok-1.5V, which includes enhanced image understanding capabilities, has been introduced.
Funding Details
Company: X.AI Corp.
Raised: $6.0B
Round: Series B
Funding Month: May 2024
Investors: Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal, Kingdom Holding
Company Website: https://x.ai/
Software Category: AI