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Musk announces $6 billion investment in AI project to compete with OpenAI

Posted on AllSides May 27th, 2024
From The Right

Elon Musk‘s artificial intelligence startup, known as xAI, has received a $6 billion boost, constituting one of the industry’s largest-ever funding rounds to date. Investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed bin Talal, and Kingdom Holding, will help xAI compete against Microsoft and OpenAI, which produced ChatGPT. “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,” xAI wrote Sunday on its...

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https://washingtonexaminer.com/policy/technology/3018469/musk-announces-6-billion-investment-compete-openai

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