Elon Musk’s xAI secures $6 billion in new funding

X CEO Elon Musk gestures during an in-conversation event with Britain’s Prime Minister Rishi Sunak in London on 2 November 2023, following the UK Artificial Intelligence Safety Summit. Photo: Kirsty Wigglesworth/ POOL/ AFP

“The funds from the round will be used to take xAI’s first products to market, build advanced infrastructure, and accelerate the research and development of future technologies,” it added.Musk teased on his social media platform X that there would be “more to announce in the coming weeks”. Musk launched the company in July last year, shortly after he signed a letter calling for a pause in AI innovations.

Building an AI model at the same scale as those companies comes at an enormous cost in computing power, infrastructure and expertise.

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