xAI, Founded by Elon Musk, Secures $6 Billion to Enhance AI Infrastructure
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New Delhi, Dec 6 (NationPress) Elon Musk's AI venture, xAI, has successfully secured $6 billion in funding, aimed at expanding its supercomputer infrastructure to support a minimum of one million graphics processing units (GPUs).
As per a recent filing with the US Securities and Exchange Commission (SEC), investors contributed a baseline of $77,593 each.
A report from the Wall Street Journal indicated that notable firms such as Valor Equity Partners, Sequoia Capital, and Andreessen Horowitz are anticipated to participate in this funding round, alongside the Qatar Investment Authority, which is Qatar's sovereign wealth fund.
This latest influx of capital elevates xAI's total funding to $12 billion, supplementing the $6 billion it raised earlier this year.
Earlier in May, the AI firm known for its product Grok secured $6 billion to expedite the research and development of next-generation technologies. The organization stated that the proceeds from this Series B funding round will facilitate the market introduction of xAI's initial products and the establishment of sophisticated infrastructure.
"xAI is fundamentally dedicated to creating advanced AI systems that are truthful, competent, and immensely beneficial for all of humanity. The company's objective is to comprehend the true essence of the universe," the company articulated in a blog entry.
Earlier this year, xAI garnered $500 million in commitments from investors towards a larger goal of $1 billion.
Established in 2023, xAI launched its inaugural AI product in November of the previous year and has recently introduced the Grok-1.5 model featuring long context capabilities, alongside Grok-1.5V which includes image comprehension.
In a related development, the tech magnate has sought a preliminary injunction against OpenAI, led by Sam Altman, for purported anti-competitive practices.
The injunction motion claims that OpenAI, along with its CEO Sam Altman, President Greg Brockman, and others, have engaged in "various illicit activities" and requests to cease these actions, according to various reports.
The accusations also entail the transformation of OpenAI's governance model to a for-profit entity and the "transfer of any material assets, including intellectual property held by OpenAI, Inc., its subsidiaries, or affiliates."
In response, OpenAI issued a statement asserting that "Elon’s fourth attempt, which again recycles the same baseless complaints, remains entirely without merit." The organization had previously dismissed the lawsuit as "blusterous" and unfounded.
