Elon Musk Raised 9 Billion Investment Of The Prince Of Saudi Arabia Elon Musk’s company XAI has raised six billion dollars (about five trillion rupees) to compete with other AI companies including OpenAI. The company, which was established last year, raised the amount only recently to bring its first product to the market.
According to the information provided on XAI’s website, the amount will be spent to build advanced devices and speed up research and development on technology.
This time, companies such as Andreessen Horowitz, Sequoia Capital, and Prince Al Waleed bin Talal of Saudi Arabia are said to have invested in XAI.
Before raising this investment, Musk said that the valuation of his company was more than 18 billion dollars. Similarly, he told his investors that he would build a new data center by 2025. In addition, now the valuation of Xi is 24 billion dollars.
Currently, Grok is a product of XAI. Which Musk brought to compete with ChatGPT. Now this AI Tool is made available to premium subscribers of X.