Elon Musk's artificial intelligence company xAI announced a $6 billion Series B investment round that increases its valuation to $24 billion, according to Musk.
Billionaire Elon Musk's artificial intelligence startup xAI announced Sunday that the company raised $6 billion in Series B funding that lifts the company's valuation to $24 billion after the investment. Among the investors in xAI's $6 billion Series B round were Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, according to the company.
In December, xAI indicated in a regulatory filing with the Securities and Exchange Commission that it intended to raise $1 billion in capital from equity investors. At the time, the company indicated it had sold about $134 million of that total. On several occasions over the last year, Musk denied that xAI was raising capital.
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