xAI, a startup from Tesla owner Elon Musk, reached a post-money valuation of $24 billion after raising $6 billion in series B funding. Investors in the company included Andreessen Horowitz, Saudi Prince Alwaleed Bin Talal and Sequoia Capital.
Prior to the funding round, xAI’s pre-money valuation was $18, according to Musk, who founded the business in July 2023. “There will be more to announce in the coming weeks,” he said in an X post.
The startup plans to use the money to bring its first products to market, as well as accelerate research and development of future technologies and build advanced infrastructure. Late last year, xAI said it was building an AI-powered chatbot, “Grok,” that would have real-time access to information on the social media platform X.
