Musk’s xAI secures $6b in new funding

Elon Musk’s AI startup xAI has secured $6 billion in a Series B funding round, with backing from investors including Andreessen Horowitz and Sequoia Capital, the company announced in a blog post on Sunday, according to Reuters.

The funds will be used to launch xAI’s initial products, develop advanced infrastructure, and accelerate R&D for future technologies.

Musk hinted at more announcements soon in a post on X. While xAI did not disclose its post-funding valuation, reports suggest it could be between $18 billion and $24 billion.

Reuters said they could not confirm the valuation with xAI.