Quick access to main page (top) Direct access to main contents Quick access to main page (bottom)

Elon Musk’s Latest AI Project Attracts $6 Billion, Signaling Major Industry Shift

Daniel Kim Views  

Artificial Intelligence (AI) startup xAI recently secured an investment of $6 billion from investors, as announced on their blog on the 27th.

Key investors in the second round of funding included Prince Alwaleed bin Talal of Saudi Arabia, prominent Silicon Valley venture capitals including Andreessen Horowitz and Sequoia Capital, and Fidelity Management and Research Company.

xAI was founded by Elon Musk in July last year after he resigned from OpenAI.

With this round of funding, xAI’s company value has inflated to $24 billion. This makes xAI the world’s second most valuable AI startup, following OpenAI, valued at $86 billion just eight months after its establishment. It also ranks as the ninth most valuable startup globally.

Due to its secured funding, CNN Business views xAI as a potential rival to OpenAI. The New York Times assesses that xAI is closing the funding gap with OpenAI through its rapid initial capital investment.

Last week, Musk, in a virtual appearance at a tech conference in Paris, France, stated that xAI has “a lot more to do” to compete effectively with OpenAI and Google, but he also expressed that it could be possible by the end of this year.

In November last year, xAI unveiled an AI chatbot called Grok for the subscribed users of X (formerly Twitter). Following this, the company introduced an improved version, Grok 1.5, featuring enhanced context-related functions.

Daniel Kim
content@viewusglobal.com

Comments0

300

Comments0

[BUSINESS] Latest Stories

  • U.S. Lobbying Heats Up: Japanese and Chinese Automakers Invest Millions Amid Policy Shifts
  • Waltz Advocates for South Korea-U.S. Shipbuilding Partnership to Challenge China’s Maritime Power
  • Spirit Airlines Furloughs Pilots and Prepares for Bankruptcy Filing in Next Few Weeks
  • Bitcoin Surpasses $90,000, Jump Fuels Optimism for $100K Next
  • U.S. Dollar Rises as Trump’s Policies Put Pressure on Global Currencies
  • Copper Prices Tumble: What’s Behind the 12% Drop Since Trump’s Election?

Weekly Best Articles

  • $154,000 for a Truffle? Hong Kong Auction Sets New Record for White Alba Truffle
  • North Korea Targets South Korea’s GPS with 5-Day Jamming—Are Drone Strikes Next?
  • Propaganda Materials Created by North Korean Defectors Aim to Break Troops’ Loyalty in Ukraine
  • How China Allegedly Spied on U.S. Military for Years—And What They Filmed
  • Thousands of North Korean ‘Students’ Enter Russia: Is Kim Sneaking Soldiers into Russia?
  • North Korea’s Dangerous New Role in Russia’s War: What You Need to Know
  • Leaked Documents Expose North Korea’s Shocking Strategy to Silence Defectors on Human Rights
  • Political Broker Myung Tae Kyun Admits Receiving Cash from South Korea’s First Lady
  • North Korean Forces Begin Combat with Russian Units in Kursk, U.S. Confirms
  • Tesla Fire Kills Four in Toronto, Raising Alarm Over Car’s Door Safety During Emergencies
  • U.S. Lobbying Heats Up: Japanese and Chinese Automakers Invest Millions Amid Policy Shifts
  • Zhuhai Attack Shocks the Nation: 35 Dead, 43 Injured in Suspected Vehicle Rampage

You May Also Like

  • 1
    President Yoon Heads to Peru and Brazil for Key Global Summits, Expected to Meet with Biden and Xi

    ASIA 

  • 2
    NASA's Latest Feat: CODEX Coronagraph Installed on ISS to Study Sun's Corona

    LATEST 

  • 3
    Trump vs. Musk: Who Will Be the Top Narcissist in Politics?

    WORLD 

  • 4
    China’s Population Keeps Dropping, Needs Trillions to Avoid Collapse

    ASIA 

  • 5
    Trump’s Change of Heart on TikTok: Will He Undo Biden’s Ban?

    DEBATE 

Popular Now

  • 1
    Could Elon Musk Shape Trump’s AI Future? Petition Calls for His Role

    LATEST 

  • 2
    Forgotten Doorstop Turns Into $3.2 Million Masterpiece at Auction

    DEBATE 

  • 3
    Kim Jong Un Cracks the Whip: Everyone Must Love Him, No Exceptions

    ASIA 

  • 4
    North Korea Jams GPS Signals, While Hackers Target South Korean Governement

    WORLD 

  • 5
    South Korea’s Trade Strategy Amid Trump's Second Term: Diplomacy or Defeat?

    DEBATE 

Weekly Best Articles

  • $154,000 for a Truffle? Hong Kong Auction Sets New Record for White Alba Truffle
  • North Korea Targets South Korea’s GPS with 5-Day Jamming—Are Drone Strikes Next?
  • Propaganda Materials Created by North Korean Defectors Aim to Break Troops’ Loyalty in Ukraine
  • How China Allegedly Spied on U.S. Military for Years—And What They Filmed
  • Thousands of North Korean ‘Students’ Enter Russia: Is Kim Sneaking Soldiers into Russia?
  • North Korea’s Dangerous New Role in Russia’s War: What You Need to Know
  • Leaked Documents Expose North Korea’s Shocking Strategy to Silence Defectors on Human Rights
  • Political Broker Myung Tae Kyun Admits Receiving Cash from South Korea’s First Lady
  • North Korean Forces Begin Combat with Russian Units in Kursk, U.S. Confirms
  • Tesla Fire Kills Four in Toronto, Raising Alarm Over Car’s Door Safety During Emergencies
  • U.S. Lobbying Heats Up: Japanese and Chinese Automakers Invest Millions Amid Policy Shifts
  • Zhuhai Attack Shocks the Nation: 35 Dead, 43 Injured in Suspected Vehicle Rampage

Must-Reads

  • 1
    President Yoon Heads to Peru and Brazil for Key Global Summits, Expected to Meet with Biden and Xi

    ASIA 

  • 2
    NASA's Latest Feat: CODEX Coronagraph Installed on ISS to Study Sun's Corona

    LATEST 

  • 3
    Trump vs. Musk: Who Will Be the Top Narcissist in Politics?

    WORLD 

  • 4
    China’s Population Keeps Dropping, Needs Trillions to Avoid Collapse

    ASIA 

  • 5
    Trump’s Change of Heart on TikTok: Will He Undo Biden’s Ban?

    DEBATE 

Popular Now

  • 1
    Could Elon Musk Shape Trump’s AI Future? Petition Calls for His Role

    LATEST 

  • 2
    Forgotten Doorstop Turns Into $3.2 Million Masterpiece at Auction

    DEBATE 

  • 3
    Kim Jong Un Cracks the Whip: Everyone Must Love Him, No Exceptions

    ASIA 

  • 4
    North Korea Jams GPS Signals, While Hackers Target South Korean Governement

    WORLD 

  • 5
    South Korea’s Trade Strategy Amid Trump's Second Term: Diplomacy or Defeat?

    DEBATE 

Share it on...