The AI firm founded by Elon Musk has raised another $6 billion from investors, including Silicon Valley venture capitalists and a Saudi prince, boosting its valuation to $24 billion.
Investors providing the second-round funding included Sequoia Capital, Andreesen Horowitz, and Saudi Prince Alwaleed Bin Talal, xAI announced in a blog post on Sunday.
Musk, who founded xAI in July last year, wrote Monday on X that there would be “more to announce in the coming weeks,” and that the startup had a valuation of $18 billion before receiving the new funding.
xAI said in its post that the new money would be used to take the firm’s “first products to market, build advanced infrastructure, and accelerate the research and development of future technologies.”
Source: CNN
