Elon Musk’s artificial intelligence company, xAI, has announced a significant $6 billion investment to enhance its competitive position against industry rivals such as OpenAI, Google, and Microsoft.
Gatekeepers News reports that the company disclosed this news in a blog post on Monday, revealing that the Series B funding round attracted investments from prominent firms including Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity, Prince Alwaleed Bin Talal, and Kingdom Holding.
With the infusion of new capital, xAI is actively seeking to expand its team and is on the lookout for talented individuals who are passionate about contributing to the advancement of humanity. The company is particularly interested in hiring engineers for various positions across its offices in Palo Alto, San Francisco, and the UK.
xEI has outlined its plans for utilizing the funds from this latest financing round, which include bringing its initial set of products to the market, developing advanced infrastructure, and accelerating the research and development of future technologies.
The company has also hinted at forthcoming technology updates and product releases in the near future. xAI’s primary focus lies in the development of advanced AI systems that are characterized by truthfulness, competence, and maximal benefit for humanity as a whole, emphasizing its mission to comprehend the fundamental nature of the universe.
Established by Elon Musk last year, xAI unveiled its Grok 1.0 chatbot model in November, positioning it as a competitor to OpenAI’s ChatGPT. Subsequently, the company made the model accessible to Premium+ users for a monthly subscription fee on X.
In April, xAI introduced the upgraded Grok 1.5 model and extended access to Premium users on X. Musk has highlighted Grok’s utilization of real-time information from X and its internet browsing capabilities, which enable it to search for current information on specific topics, akin to ChatGPT.
