Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

Elon Musk’s AI startup now valued at $24 billion after fresh funding

by May 28, 2024
May 28, 2024
Elon Musk’s AI startup now valued at $24 billion after fresh funding

Elon Musk’s AI startup xAI raised $6 billion in series B funding, reaching a post-money valuation of $24 billion as investors bet big on challengers to companies like OpenAI in the intensifying AI race.

The funding round was backed by investors including Andreessen Horowitz and Sequoia Capital, the company said in a blog post on Sunday.

The company’s pre-money valuation was $18 billion, Musk said in a post on X.

The money will be used to take xAI’s first products to market, build advanced infrastructure and accelerate research and development of future technologies, xAI said.

“There will be more to announce in the coming weeks,” Musk said in another X post, in response to the announcement of the funding.

Companies like Microsoft-backed OpenAI and Alphabet’s Gemini are among those leading the fierce race for generative AI dominance, driving significant investments and innovation in the rapidly evolving landscape.

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Sage Potash Closes Private Placement of $1,822,500
next post
China’s threats, ‘naked aggression’ loom large as House lawmakers meet Taiwan’s new president

Related Posts

Bob Iger says Disney’s mission is to entertain,...

April 5, 2024

If you haven’t started your Thanksgiving trip, you’re...

November 28, 2023

Affirm announces JPMorgan Chase merchants can now offer...

March 27, 2025

DOJ sues Walgreens, alleging it ‘knowingly’ filled millions...

January 19, 2025

McDonald’s aims to open nearly 9,000 restaurants, add...

December 7, 2023

Nearly 5M blenders sold at Costco, Target and...

January 2, 2024

Boeing urges inspections of 737 Max planes for...

January 3, 2024

Prebiotic soda brand Olipop valued at $1.85 billion...

February 13, 2025

Honda recalls more than 2.5 million cars over...

December 23, 2023

WeWork, once valued at $40 billion, warns of...

August 11, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Larry Williams on the Fed, Interest Rates & Markets! What’s Next?

    • Analyzing SIL, USO, and NVDA: Could These Bullish Patterns Trigger?

    • Nuclear Power Trio: OKLO, SMR, and CCJ in Focus

    • Trump’s Nuclear Revival Plan Boosts Uranium Prices, Sends US Miners Soaring

    • Group Eleven Announces Appointment of Jasmine Lau as Chief Financial Officer

    • Charbone Hydrogene annonce les resultats financiers T1 2025

    Categories

    • Business (1,221)
    • Investing (2,498)
    • Politics (3,699)
    • Stocks (1,611)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved