Phones Canada is excited to share that Elon Musk’s xAI has successfully completed its Series B funding round, raising an impressive $6 billion. This milestone was achieved with the support of key investors such as Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Saudi Arabia’s Prince Alwaleed Bin Talal, and Kingdom Holding.
Since its establishment in July 2023, xAI has made significant strides in the field of artificial intelligence. The company recently launched its Grok-1 model on X and unveiled the enhanced Grok-1.5 model with long context capability, along with Grok-1.5V incorporating image understanding. The release of Grok-1 as open-source has enabled various applications and extensions of the model.
With the $6 billion in funding secured, xAI is gearing up to bring its first products to market, develop advanced infrastructure, and ramp up research and development initiatives. Expect multiple technology updates and product announcements from xAI in the near future as they continue their rapid progress.
Elon Musk emphasized xAI’s core focus on developing advanced AI systems that are truthful, competent, and beneficial for all of humanity. The company’s mission revolves around understanding the true nature of the universe through a rigorous pursuit of truth without compromising on integrity.
According to Musk, xAI’s pre-money valuation stood at an impressive $18 billion. Reports from The Information suggest that xAI plans to utilize the funds to build a massive computer referred to as the “gigafactory of compute,” slated for completion by fall 2025. This supercomputer will house Nvidia’s latest H100 graphics processing units and feature a massive cluster comprising 100,000 semiconductors for training the next iteration of Grok chatbot using real-time data from X.
As the AI landscape evolves rapidly, xAI is at the forefront of innovation with ambitious plans for technological advancements. Stay tuned for more updates on xAI’s groundbreaking developments as they shape the future of artificial intelligence.
