Elon Musk’s AI startup, xAI, has raised $6 billion in a new funding round, it said today, in one of the largest deals in the red-hot nascent space, as he shores up capital to aggressively compete with rivals including OpenAI, Microsoft, and Google.
Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity, Prince Alwaleed Bin Talal and Kingdom Holding are among the backers who have invested in xAI’s Series B funding, the startup wrote in a blog post.
The funding confirms TechCrunch‘s reporting from April that xAI was looking to raise $6 billion. xAI at the time was finalizing the round that would have given it a valuation of $18 billion, TechCrunch reported at the time. xAI, which started just last year and has spun out of social network X, and whether X had also invested.
Musk confirmed that the investment round was valued at $18 billion pre-money.
