Elon Musk’s artificial intelligence (AI) venture, xAI, is reportedly in negotiations to secure $10 billion in funding. This investment round, if successful, would elevate xAI’s valuation to $75 billion.
The funding discussions involve existing investors, such as Sequoia Capital, Andreessen Horowitz, and Valor Equity Partners. Once finalized, the investment would bring xAI’s total raised funds to $22.4 billion, as per Crunchbase. It’s important to note that these talks are ongoing and subject to change.
This potential capital infusion coincides with reports of xAI considering a substantial purchase of servers from Dell, amounting to over $5 billion. These servers would facilitate the advancement of xAI’s AI technologies, including its Grok models.
Grok plays a crucial role in various features of Musk’s social media platform, X, including summarizing trending discussions. Musk recently announced during a live-streamed tech conference in Dubai that Grok 3, the next significant iteration, is slated for release in the coming weeks.
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