Billionaire Elon Musk’s artificial intelligence (AI) company announced on Monday, Dec. 23, that it is partnering with BlackRock, NVIDIA, AMD and others to expand its AI infrastructure, according to the company’s official blog note posted on Monday. Raised $6 billion from leading investors.
The company raised $6 billion in a Series C round, according to company disclosures. This will be the second funding round in 2024. The first was a Series B round in May 2024. xAI raised $6 billion in May from investors including Andreessen Horowitz and Sequoia Capital.
“A $6 billion Series C with participation from major investors including A16Z, Blackrock, Fidelity Management & Research Company, Kingdom Holdings, Lightspeed, MGX, Morgan Stanley, OIA, QIA, Sequoia Capital, Valor Equity Partners, and Vy. We have completed a funding round, including capital, with strategic investors NVIDIA and AMD continuing to support xAI in rapidly expanding its infrastructure.” says on his blog.
The AI company revealed that the funds raised in the Series C round will be used to develop infrastructure and invest in research and development.
“The funds raised in this funding round will further accelerate our advanced infrastructure, ship breakthrough products used by billions of people, and support our mission to understand the true nature of the universe. It will be used to accelerate research and development of future enabling technologies,” xAI said in a release.
Since raising Series B funding…
Focusing on ventures beyond the Series B round, the company has launched key initiatives including: – Colossus, the world’s largest AI supercomputer, powered by Nvidia chips, Grok 2, a second version of the language model, and xAI API, which provides developers with a programmatically accessible foundation model Yes, we have successfully leveraged Grok on social media platform X as well.
Looking to the future, the company is leveraging the power of its most powerful model, Grok 3, and other innovative new products, Grok, Colossus, and X, to help consumers transform the way we live, work, and play. and corporate products. said the AI company.
