Elon Musk’s artificial intelligence startup xAI has raised $6 billion (about Rs. 49,857 crore) to accelerate its challenge to its former ally in OpenAI.
The Series B round, announced in a blog post on May 26, comes less than a year after xAI debuted and is one of the company’s largest investments in the nascent field of AI tool development. Musk has been an early proponent of artificial intelligence, including supporting OpenAI before introducing ChatGPT in late 2022.
He later withdrew his support for the venture and urged caution because of the potential risks of the technology. He was one of a large group of industry leaders who called for a halt to AI development last year.
Last November, Musk launched Grok, a rival to OpenAI’s ChatGPT. Grok was trained and integrated into X.com, the social network formerly known as Twitter. This was the most high-profile xAI effort to date, led by executives with previous experience at Alphabet’s DeepMind, Microsoft, and Tesla.
The company plans to use the funds to bring its first products to market, build cutting-edge infrastructure, and accelerate development of future technologies, it said in a blog post.
In his post about Marquee venture capital names including Sequoia Capital and Andreessen Horowitz backed the financing, one of the largest to date. industry.
Microsoft invested about $13 billion (about 1,080.24 billion rupees) in OpenAI, while Amazon.com invested about $4 billion (about 33,238 billion rupees) in Anthropic.
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