NIX Solutions: xAI Secures $6 Billion in New Funding

Last week, the xAI company successfully attracted a new tranche of funding from institutional investors totaling $6 billion, as it was announced on the social network X. Without taking these new funds into account, xAI’s capitalization had already reached $18 billion at the time of the transaction.

NIX Solutions

Development of Grok and Future Technologies

Elon Musk, an American entrepreneur, is using xAI to create his own artificial intelligence system. He is currently developing the Grok chatbot, utilizing data from the social network X, which he also owns, to train it. The symbiosis is bi-directional—premium X subscribers are granted access to the Grok chatbot. Musk has repeatedly emphasized his desire to make Grok as politically objective as possible. Initially, Musk was involved in the development of OpenAI, the startup that later introduced the world to ChatGPT, but he left the company due to disagreements with its management, reminds NIX Solutions.

The funds received from investors will be used to prepare xAI’s products for market launch, develop advanced infrastructure, and accelerate the development of future technologies, as noted in a publication on the company’s website. The investment came from several venture funds, including Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Kingdom Holding, and the nephew of the King of Saudi Arabia, Prince Al-Waleed bin Talal bin Abdul-Aziz Al Saud. We’ll keep you updated on the latest developments.

For comparison, Microsoft has invested approximately $13 billion in OpenAI, and Amazon plans to invest around $4 billion in Anthropic. xAI emphasizes that the company’s mission is to understand the true nature of the Universe.