Elon Musk’s xAI raises $6bn, escalating rivalry with OpenAI

Elon Musk's xAI, a burgeoning force in artificial intelligence, secures a staggering $6 billion in Series B funding, intensifying its rivalry with former ally, OpenAI. Musk, once a supporter of AI, now urges caution, driving his own venture's momentum. With Grok, an AI chat system integrated into X.com, xAI promises innovation. Led by seasoned executives, backed by giants like Sequoia and Andreessen Horowitz, xAI's ambitions soar, its pre-money valuation reaching a formidable $18 billion.

Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.