Elon Musk's xAI Secures $6 Billion Funding: Backed by Blackrock, NVIDIA

Trump's recent announcement about an AI advisor in the White House is driving the AI market crazy. In addition, Elon Musk's AI company, xAI, has raised $6 billion in Series C funding. This money will help xAI develop and compete with big companies like OpenAI. According to CNBC, the initial fundraising round was supported by A16Z, Blackrock, Fidelity, and Sequoia Capital. In addition, tech giants like NVIDIA and AMD have participated as strategic investors to support xAI in building more advanced AI systems. This amount will mainly be used to expand xAI's Colossus supercomputer, providing power for the company's AI projects. Currently, this supercomputer runs on over 100,000 powerful Nvidia GPUs (a type of computer chip), but xAI plans to double that number to 200,000. This will help the supercomputer operate faster and assist xAI in building better AI tools and products. In a recent post on X, Elon Musk declared that by 2030, AI will be smarter than all humans combined. He is so certain about it that he said the likelihood of this happening is close to 100%.

Rapid Growth and Large Market Value of xAI xAI has grown rapidly since its establishment in July 2023, reaching a valuation of $50 billion. This makes it a serious competitor to OpenAI, a company worth $157 billion. In a short period of time, xAI has surpassed other AI companies such as Anthropic, valued at $19 billion, and Perplexity, valued at $2.8 billion. Furthermore, the company is also recruiting a large number of new employees to help the company develop even faster. One of the main products that xAI is developing is Grok, a chatbot that helps users perform tasks such as rewriting texts and creating images. Grok is now available to even more people, including through the iPhone app and the Grok.com website. Who Has Invested in xAI? According to reports, the latest funding round of xAI is only available to investors who have supported the company in previous rounds. In addition, individuals who participated in funding the acquisition of Twitter by Elon Musk are allowed to purchase up to 25% of xAI's shares. As of now, the Series C funding round has nearly 100 investors, including major venture capital firms and national investment funds. The minimum investment amount is about $77,593. With this funding, xAI is ready to continue developing and surpassing the limits of what AI can do. In summary, xAI is competing with Open AI and other companies in the market. Although the path of xAI seems promising, it will be very interesting to see if Elon's fame can propel the company to the pinnacle of building a leading technology company or not. DYOR! #Write2Win #Write&Earn $BTC {spot}(BTCUSDT)