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Elon Musk’s xAI Secures $6 Billion in Series C Funding

Dec 27, 2024•over 1 year ago

Contract Type

partnership

New YorkOtherVenture Capital FundVenture Capital FundVenture Capital FundVenture Capital FundVenture Capital FundVenture Capital FundVenture Capital FundVenture Capital FundVenture Capital FundOther Investment Fund

Description

Elon Musk’s artificial intelligence venture, xAI, has raised $6 billion in a Series C funding round, nearly doubling its valuation to $45 billion. Major players like Andreessen Horowitz, BlackRock, Fidelity, Nvidia, AMD, and Kingdom Holdings participated in the round, with Kingdom Holdings contributing $400 million. The new investment will accelerate infrastructure development, fuel R&D, and support the rollout of innovative consumer and enterprise AI products, focusing on the flagship AI model, Grok.

Company Information

Company

xAI

Location

420 LEXINGTON AVENUE, SUITE 2803

New York, New York, United States

About

Elon Musk started xAI in July after hiring researchers from OpenAI, Google DeepMind, Tesla and the University of Toronto.

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