xAI, Elon Musk’s synthetic intelligence (AI) firm, has raised USD 6 billion in new capital, based on a regulatory submitting. The fairness financing got here from 97 traders and consists of stakes as small as USD 77,593, as said within the submitting with the US Securities and Trade Fee on Thursday. The submitting didn’t disclose the identities of the traders. Moreover, the corporate has not supplied particular info relating to its valuation or income figures.

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xAI’s Newest Funding

The funding comes as xAI seeks to bolster its presence within the AI business by increasing its Memphis, Tennessee, supercomputer to accommodate not less than a million graphics processing models (GPUs). Earlier reviews point out that present traders, together with Valor Fairness Companions, Sequoia Capital, Andreessen Horowitz, and the Qatar Funding Authority, participated within the funding spherical.

Since its inception final 12 months, xAI has launched its generative AI mannequin, Grok, which powers options on X. The corporate reportedly plans to make use of funds from this spherical to buy 100,000 AI chips from Nvidia.

Collection B Funding

This new funding brings xAI’s whole capital raised to USD 12 billion, including to the USD 6 billion tranche secured earlier in Could. The corporate said that the Collection B funding will likely be used to convey its first merchandise to market, construct superior infrastructure, and speed up analysis and growth of future applied sciences.

“Our Collection B funding spherical of USD 6 billion with participation from key traders together with Valor Fairness Companions, Vy Capital, Andreessen Horowitz, Sequoia Capital, Constancy Administration and Analysis Firm, Prince Alwaleed Bin Talal and Kingdom Holding, amongst others,” the corporate introduced in Could.

“xAI is primarily centered on the event of superior AI techniques which might be truthful, competent, and maximally helpful for all of humanity. The corporate’s mission is to know the true nature of the universe,” the corporate stated in a weblog submit.

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The Grok AI Mannequin

xAI’s flagship product, a chatbot known as Grok, is accessible to paying customers of X, the social community previously often called Twitter. In August, the corporate launched Grok-2, a frontier language mannequin with state-of-the-art reasoning capabilities. This launch launched two fashions: Grok-2 and Grok-2 Mini.

In November, xAI launched the API Public Beta, providing programmatic entry for builders to construct purposes utilizing Grok basis fashions through the newly launched API.