Elon Musk is taking on ChatGPT - and xAI now has $20 billion more to do it
MarketWatch••business
Key Points:
- xAI, the AI startup founded by Elon Musk, announced it raised $20 billion in its Series E funding round, surpassing its $15 billion target.
- The funding will support the continued development of xAI's Grok chatbot.
- Key investors in the round included Fidelity Management and Research, the Qatar Investment Authority, and Valor Equity Partners.
- Strategic investments also came from Cisco Investments and Nvidia.
- Valor Equity Partners is led by Antonio Gracias, a former Tesla board member.
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