Musk raises $6 billion for xAI to challenge OpenAI

xAI, Elon Musk’s artificial intelligence company, raised US$6 billion from a group of investors to finance the expansion of the technology.

The company said on your website Sunday that the “Series B funding” will go towards bringing the company’s first products to market, building infrastructure and researching future technologies.

“xAI will continue on this steep trajectory of progress in the coming months, with several exciting technology updates and products to be announced soon,” the company wrote.

Investors in this round of financing include Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal, and Kingdom Holding, among others.

Musk wrote on Xthe social media platform he owns, formerly known as Twitter, that interested potential employees should join the company if “you believe in our mission to understand the universe, which requires pursuing the truth with the utmost rigor without taking take into account popularity or political correctness.”

Investor funding will likely help Musk compete with other companies as they race to build artificial intelligence alongside companies like Microsoft and OpenAI, which created the popular ChatGPT platform.

Musk announced in July that he would create the artificial intelligence company with the aim of understanding the “true nature of the universe”.

While Musk continues his work in the race toward artificial intelligence, he has been a leading voice of caution around the emerging technology.

Rep. Mike Gallagher (R-Wis.) said in July that he considers Musk to be the most prominent person associated with “AI pausers,” or those who are worried about the risk it will pose to humanity.

In March, Musk said xAI’s “Grok” chatbot will be available to all premium X subscribers.

The company said in its announcement on Sunday that its model’s capabilities have “rapidly improved” and new versions of the Grok have “opened the door for advancements.”

This story originally appeared on thehill.com read the full story