24/7 Space News
ROBO SPACE
Elon Musk's xAI secures $6 billion in new funding
Elon Musk's xAI secures $6 billion in new funding
by AFP Staff Writers
Washington (AFP) May 27, 2024

Billionaire tech mogul Elon Musk's startup xAI said it has raised $6 billion from investors in an increasingly crowded artificial intelligence market.

The latest funding, including from well known venture capitalists and a Saudi prince, takes the firm's total valuation to $24 billion, based on a pre-infusion figure of $18 billion cited by Musk.

"xAI is pleased to announce... Our Series B funding round of $6 billion," the company said in a blog post on Sunday.

"The funds from the round will be used to take xAI's first products to market, build advanced infrastructure, and accelerate the research and development of future technologies," it added.

Musk teased on his social media platform X that there would be "more to announce in the coming weeks".

The latest round of funding came from Valor Equity Partners, Andreessen Horowitz, Sequoia Capital and Prince Alwaleed Bin Talal, among others.

Musk launched the company in July last year, shortly after he signed a letter calling for a pause in AI innovations.

He is one of the world's few investors with deep enough pockets to compete in the AI sphere with the likes of OpenAI, Google and Meta.

Building an AI model at the same scale as those companies comes at an enormous cost in computing power, infrastructure and expertise.

xAI said Sunday its primary focus was to develop "advanced AI systems that are truthful, competent, and maximally beneficial for all of humanity".

It is developing a chatbot named Grok, which can access X, the former Twitter, in real time.

Musk earlier this month told investors that he planned to build a supercomputer dubbed "gigafactory of compute" to support the development of xAI.

The planned supercomputer would be "at least four times the size of the biggest GPU clusters that exist today," such as those used by Meta to train its AI models, Musk was quoted as saying by an industry news outlet.

bur-sn/smw

X

Meta

Related Links
All about the robots on Earth and beyond!

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
ROBO SPACE
Google tweaking AI Overview after search result gaffes
San Francisco (AFP) May 24, 2024
Google on Friday said it is taking "swift action" to improve AI summaries of search results, after users mocked blunders like Barack Obama being the first Muslim US president. Google users took to social media to lampoon erroneous "AI Overview" responses to queries such as whether people should eat stones or stare into the sun, or how many Muslim US presidents there have been. "Many of the examples we've seen have been uncommon queries, and we've also seen examples that were doctored or that we ... read more

ROBO SPACE
French, Belgian astronauts named next Europeans to fly to ISS

UCF develops algorithms for space and sea exploration

NASA announces $6BN in contracts for Spacecraft Acquisition Services

Office of Space Commerce Extends TraCSS Project

ROBO SPACE
First crewed Boeing Starliner flight delayed again

SpaceX launches Starlink satellites in second mission of the day

NASA's Psyche Thrusters Propel Spacecraft Toward Asteroid

Boeing Starliner crewed test flight delayed indefinitely

ROBO SPACE
RNA study reveals potential for life in Mars' extreme environments

Redwire to lead Mars imaging study for NASA

Astrobotic to conduct NASA JPL studies for Mars missions

NASA and ESA Collaborate on ExoMars Rosalind Franklin Rover

ROBO SPACE
Zebrafish on China's space station reported to be in good condition

China sends experimental satellite into orbit with Long March 4C rocket

International Support for China's Chang'e-6 Lunar Mission

Shenzhou XVII astronauts safely back from Tiangong space station

ROBO SPACE
ESA and EU Strengthen Information Security Agreement

Karman Space and Defense launches new website and tagline*

European Space Agency selects two firms to build ISS cargo vehicle

SpacePNT validates its PNT technology in LEO orbit

ROBO SPACE
Cool by design 3D printing

Musk plans largest-ever supercomputer for xAI startup: report

Virginia Tech Engineers Lower Leidenfrost Effect Temperature

Google to invest $2 bn in Malaysia: government

ROBO SPACE
ASU researchers address methane mystery of exoplanet

NASA Tool Gets Ready to Image Faraway Planets

Webb reveals details of exoplanet's interior

Researchers Discover New Insights into Carbene Formation

ROBO SPACE
Peering into Pluto's hidden ocean

Probing for Rocks in an Ice Giant's Core

NASA's Juno captures detailed images of Europa's surface

New Horizons expand research with unique observations

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.