Musk’s xAI completed US$6 billion in Series B financing, with a pre-money valuation of US$18 billion

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Musk’s artificial intelligence startup xAI announced on Monday the completion of a $6 billion Series B financing. Major investors include Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding.

Musk\’s artificial intelligence startup xAI announced on Monday the completion of a $6 billion Series B financing. Major investors include Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding.
The company said: The funds from this round of financing will be used to bring the first batch of xAI products to the market, build advanced infrastructure, and accelerate the research and development of future technologies.
Musk revealed that xAI’s pre-money valuation was $16 billion in response to a post from electric vehicle analyst Sawyer Merritt sharing the news.
However, Musk later posted a correction: Apologizing for my typo. The pre-money valuation was US$18 billion.

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