- X.AI Corp., led by Elon Musk, closing funding round at $18 billion valuation.
- Funding round aimed at $6 billion, with Sequoia Capital among participants, showcasing investor confidence.
- X.AI Corp. leveraging Musk’s track record and data from X network for AI advancement.
Elon Musk’s artificial intelligence startup, X.AI Corp., is on the brink of finalizing its funding round at a staggering valuation of approximately $18 billion, sources familiar with the matter revealed. The closure of this funding round is anticipated to occur within the week, although the precise details, including the exact size of the round, remain subject to finalization.
Previously, Bloomberg News had reported that X.AI Corp. was poised to secure a significant portion of its funding, approximately $6 billion, with participation from renowned investors like Sequoia Capital. However, the final figures are yet to be confirmed, and alterations in valuation and timing are still plausible, according to insiders.
The funding endeavor for X.AI Corp., an emerging competitor to OpenAI, has been strategically marketed, leveraging Elon Musk’s illustrious track record at Tesla Inc. and SpaceX to attract potential investors.
One of the key selling points highlighted in the pitch deck is X.AI’s capability to harness high-quality data from Musk’s social network, X, formerly known as Twitter, to enhance its AI capabilities, particularly in training large language models.
Access to quality data is deemed indispensable for advancing AI technologies, especially in the realm of AI chatbots, where X.AI Corp.’s Grok assistant aims to carve out its niche. With substantial funding and strategic backing, X.AI Corp. endeavors to bolster its position in the competitive landscape of artificial intelligence, challenging established players like OpenAI.
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