Elon Musk’s xAI Successfully Raises $6 Billion

Elon Musk's xAI has raised $6 billion in its latest funding round, bringing its total funding to $12 billion, as the company files lawsuits against OpenAI and Microsoft over anti-competitive behavior.

Azcnews Elon Musk's Xai Successfully Raises $6 Billion

Elon Musk xAI has just completed its latest funding round, raising $6 billion, according to a filing with the US Securities and Exchange Commission (SEC). The company also successfully raised $6 billion earlier this year, bringing its total capital to $12 billion. With this strong financial resource, xAI is expected to expand its generative AI initiatives and increase its competitive advantage in the market.

Elon Musk xAI Reaches $12 Billion in Total Capital After $6 Billion Funding Round

According to a recent report, Elon Musk xAI has successfully attracted $6 billion from investors, including Andreessen Horowitz, BlackRock, Fidelity, Nvidia and many others. What’s special is that this funding round only includes investors who have invested in the past, most of whom participated in supporting Musk in the acquisition of X (formerly Twitter).

Elon Musk's Xai Successfully Raises $6 Billion
Elon Musk’s Xai Successfully Raises $6 Billion

The new capital brings the total amount raised by xAI to $12 billion. The company plans to use the funding to further develop its generative AI model, Grok, and expand its ecosystem. With the massive financial backing, xAI is aiming to compete head-to-head with industry giants like OpenAI and Anthropic.

Read more: Bitcoin Rebounds as Major Institutions Continue Buying

In addition, xAI’s Grok AI model currently offers a range of features on the X platform, including a chatbot for paid users and free in certain regions. Grok is known for its ability to generate images using the Flux generator tool, analyze images, and summarize trending news.

In October, xAI launched an API that allows developers to integrate Grok into third-party apps and platforms. At the same time, the company also introduced a standalone iOS app to test and expand its generative AI capabilities.

(4 votes)

4.8/5

(4 votes)

Latest

Crypto Market Surpasses $4 Trillion, Overtakes Microsoft Amid Policy Boost

News | Altcoin | Bitcoin | Editor Choice

Crypto Market Surpasses $4 Trillion, Overtakes Microsoft Amid Policy Boost

The cryptocurrency market has surpassed $4 trillion in market capitalization for the first time, overtaking Microsoft, driven by supportive U.S. policies and a surge in investments from both individuals and institutions.

Xrp Explodes, Whale Moves Spark Bullish Momentum

News | Altcoin | Editor Choice

XRP Explodes, Whale Moves Spark Bullish Momentum

XRP’s open interest has surged by over 18%, accompanied by a spike in derivatives volume and a golden cross in the MVRV ratio, fueling investor expectations of a major upcoming price breakout.

Xrp Reaches New Peak After 7 Years Of Waiting

Altcoin | Editor Choice

XRP Reaches New Peak After 7 Years of Waiting

This morning, Ripple (XRP) officially reached a new peak at $3.60, becoming the third-largest cryptocurrency in the market.

Donald Trump Plans To Allow Pension Funds To Invest In Crypto

Policy & Regulations | Editor Choice

Donald Trump Plans to Allow Pension Funds to Invest in Crypto

U.S. President Donald Trump aims for pension funds in the country to allocate capital into assets such as gold, private securities, and especially cryptocurrencies.

Wintermute Reports No More Eth Available For Sale Via Otc

Altcoin | Editor Choice

Wintermute Reports No More ETH Available for Sale via OTC

Wintermute has reported that the amount of ETH sold through OTC has run out, indicating impressive buying activity from institutions targeting Ethereum.