MuskholdemArtificial intelligence startup xAI announced on Monday that it has completed a US$6 billion Series B financing, with major investors including Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding.

"Funds from this round of financing will be used to bring the first batch of xAI products to market, build advanced infrastructure, and accelerate the research and development of future technologies," the company said.

In response to a post shared by electric vehicle analyst Sawyer Merrit, Musk revealed that xAI has a pre-investment valuation of $16 billion.

However, Musk later posted a correction: "Apologize for my typo. The pre-investment valuation is US$18 billion."

holdem| Musk's xAI completes  billion in Series B financing, with a pre-investment valuation of  billion

Date: 2024-05-27