This funding will help Musk catch up in the field of artificial intelligence, where he previously co-founded OpenAI but left due to a legal dispute.
Some of the institutions investing in xAI, such as Andreessen Horowitz and Sequoia Capital, are also supporters of OpenAI.
Musk stated that the $6 billion is entirely new funding and unrelated to the shares he gave investors when acquiring Twitter (now renamed X). However, it is currently unclear whether the initial investors who supported the acquisition of X have also received additional equity in xAI.
Musk revealed that xAI's current valuation has reached $24 billion.
Additionally, participants in xAI's Series B financing include Valor Equity Partners, Vy Capital, Fidelity, Craft Ventures, Prince Alwaleed Bin Talal, and Kingdom Holding.
While xAI has not explicitly disclosed the specific use of this funding, recent reports suggest the company plans to build a massive new supercomputing center, potentially in collaboration with Oracle.
