STORY · SELSKAPER_
xAI raises 20 billion dollars in funding round
Elon Musk's AI company xAI has completed a Series E round of 20 billion dollars at a valuation of around 230 billion dollars. Investors include Nvidia and Cisco Investments. The funds will be used to build supercomputers Colossus I and II and train the next version of the Grok model, with access to 600 million monthly active users from the X platform.
WHY IT MATTERS
This is one of the largest funding rounds for a private AI company and demonstrates continued massive capital flow to frontier model development. xAI's access to X data and dedicated supercomputers position them as a significant competitor to OpenAI and other model companies.
SOURCES
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