Elon Musk’s xAI Raises $6 Billion in New Funding Round
Elon Musk’s artificial intelligence (AI) company, xAI, has successfully closed a funding round, raising $6 billion to “accelerate its development.”
Technological Expansion: xAI plans to boost the capacity of its supercomputer Colossus.
Funding Details
- The funds will be used to strengthen xAI’s “cutting-edge infrastructure”.
- xAI aims to compete with OpenAI, the owner of ChatGPT.
- Musk stated, “We will need significant computational power” on the social media platform X.
Supercomputer Development
- xAI plans to increase the capacity of its supercomputer, Colossus, from:
- 100,000 to 200,000 microchips produced by Nvidia.
- This upgrade is essential for training AI systems like Grok.
Company Growth
- xAI was launched in July 2023 and had already raised $6 billion in May.
- The company is now valued at approximately $50 billion, according to U.S. news network CNBC.
Competitive Landscape
Musk is competing with other tech giants to position himself at the forefront of generative AI development, a field that has expanded since the launch of ChatGPT in 2022.
