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Musk's OpenAI-rival firm xAI raises $6 billion in funding
Inshorts
·
7m ago
Medial
Elon Musk's AI company xAI has raised $6 billion (around ₹50,800 crore) in a fresh funding round. This comes as the OpenAI-rival aims to expand its supercomputer to keep at least one million graphics processing units (GPUs). This funding brings xAI's total amount raised to $12 billion. A report earlier claimed the round would value xAI at $50 billion.
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Elon Musk's AI startup xAI raises $6 billion in latest funding round
Economic Times
·
6m ago
Medial
Elon Musk's AI startup xAI has raised $6 billion in its latest funding round. The company, known for its Grok chatbot, attracted investments from venture capitalists, chipmakers NVIDIA and AMD, and investment funds from Saudi Arabia and Qatar. Despite Musk's warnings about the risks of AI, xAI continues to seek investment in the sector. The company now has an estimated valuation of $50 billion, although it is still overshadowed by competitor OpenAI's $157 billion valuation. xAI plans to use the funding to develop groundbreaking products and accelerate research in future technologies.
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xAI, Elon Musk’s OpenAI rival, is closing on $6B in funding and X, his social network, is already one of its shareholders
TechCrunch
·
1y ago
Medial
Elon Musk's AI venture, xAI, is securing $6 billion in funding, valued at $18 billion pre-money, attracting interest from prominent investors like Sequoia Capital and Future Ventures. xAI aims to integrate data from Musk's various companies to enhance its AI capabilities, impacting projects from Tesla to SpaceX. This funding round emphasizes xAI's growing influence in the AI sector.
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It's hard to compete with Elon Musk when recruiting AI talent, CEO says
Business Insider
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1y ago
Medial
Elon Musk's influence and his AI startup, xAI, have made it challenging for other companies to compete when recruiting AI talent. xAI has become one of the highest-paying companies for AI professionals, along with OpenAI. The high valuation of Musk's ventures, such as a reported $80 billion valuation for OpenAI, gives them an advantage in attracting candidates. Perplexity, a rival AI company, faces difficulties in competing with xAI's perceived value due to Musk's celebrity status and cult following. However, Perplexity CEO Aravind Srinivas believes that finding candidates who align with their vision is crucial in overcoming this challenge.
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Elon Musk's AI startup is courting potential investors with a pitch deck that touts access to the 'Muskonomy'
Business Insider
·
1y ago
Medial
Elon Musk's AI startup, xAI, is enticing potential investors with its access to Musk's network of companies, known as the "Muskonomy." The startup, led by Musk, highlights his track record as a successful entrepreneur in building large-cap market leaders. The pitch deck mentions strategic partnerships with Tesla and X, as well as drawing inspiration from the success of xAI's rival, OpenAI. Despite rumors, Musk denies seeking funding from investors for xAI.
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OpenAI raises $6.6B and is now valued at $157B
TechCrunch
·
9m ago
Medial
- OpenAI has recently closed the largest VC round, raising $6.6 billion in funding. - The funding values OpenAI at $157 billion post-money, making it the world's best-funded AI startup. - Investors in the funding round include Thrive Capital, Microsoft, Nvidia, SoftBank, Khosla Ventures, Altimeter Capital, Fidelity, and MGX. - OpenAI plans to utilize the funds to further invest in frontier AI research, increase compute capacity, and develop tools to assist in solving complex problems. - The company has requested investors to avoid supporting rival startups Anthropic and xAI. - OpenAI projects its revenue to reach $100 billion in 2029 and faces competition from other AI startups and tech giants such as Google, Amazon, and Meta.
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Elon Musk's AI startup xAI raises $6 billion in latest funding round
Economic Times
·
6m ago
Medial
Elon Musk's AI startup, xAI, has raised $6 billion in its latest funding round. The company, known for its Grok chatbot, received support from investors such as US venture capitalists, chipmakers NVIDIA and AMD, and investment funds from Saudi Arabia and Qatar. With a valuation of approximately $50 billion, xAI is one of the world's most valuable startups. The funding will be used to deliver innovative products to billions of users and advance research and development for future technologies. Musk has been vocal about the risks of AI but is actively seeking investment in the sector.
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Elon Musk says his AI startup xAI not raising capital
Economic Times
·
1y ago
Medial
Elon Musk clarified that his AI company xAI is not in talks to secure funding, contrary to a report by the Financial Times. Musk stated on social media platform X that xAI is not raising capital, and he has had no discussions in that regard. The Financial Times reported that xAI was seeking up to $6 billion in funding at a valuation of $20 billion. Musk's warnings about developing AI outside Tesla unless he gains more voting control have been noted, emphasizing his focus on building safer AI.
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Elon Musk's Grok AI chatbot is now available for free to all users
Livemint
·
7m ago
Medial
Elon Musk's Grok AI chatbot is now available to all users for free, no longer behind a paywall. Previously, users had to purchase an X premium subscription to access it. The free version of Grok has some restrictions, such as a limit of 10 messages every two hours and analysis of up to three images per day. There are speculations that a standalone app for Grok may be in the works. Musk's xAI recently completed a $6 billion funding round, aiming to expand its supercomputer facility and compete with OpenAI.
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Elon Musk’s xAI in talks to raise funding valuing it at $40 billion
Livemint
·
8m ago
Medial
Elon Musk's xAI is reportedly in talks with investors for a funding round that could value the startup at around $40 billion. The funding discussions are still in the early stages, and xAI hopes to raise several billion dollars to add to its $40 billion valuation. The company has recently released a tool for developers and has plans to expand its Memphis data center. However, xAI has faced criticism for generating controversial images using its AI model. The funding round comes as other AI startups, like OpenAI, are also raising substantial funds to advance their technology.
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Elon Musk’s xAI releases Grok source and weights, taunting OpenAI
Arstechnica
·
1y ago
Medial
Elon Musk's AI firm, xAI, has released the base model weights and network architecture of Grok-1, a language model developed to rival OpenAI's ChatGPT. This comes as Musk continues to criticize OpenAI for not making its AI models open source. Grok-1, with 314 billion parameters, is an AI assistant similar to ChatGPT. The release is not fine-tuned for a specific task, indicating it may not be the model used to power X's Grok AI assistant. The model can be accessed on GitHub and BitTorrent, but it requires significant computational resources to run.
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