xAI Makes It Official 鈥� Raises $6B At $24B Valuation

鈥檚 generative AI startup, , officially announced its long-awaited fundraise 鈥� making it the second-most-valuable generative AI company in the world behind only competitor .

The $6 billion round included investment from , , , , Management & Research Co., Prince and , among others.

The new funding values the company at $24 billion post money, well behind OpenAI鈥檚 but well ahead of the $18 billion generative AI startup is now valued at after its last raise.

It was earlier this month that another competitor, Paris-based , was closing in on a round of about $600 million from existing investors and that would value it at $6 billion.

Fresh cash and new AI

The xAI round had been rumored for months. The company was announced just last July and released its competitor, Grok, last November. It introduced its latest AI model, called Grok-1.5, just earlier this year.

Grok is trained off data from another one of Musk鈥檚 companies, .

鈥渪AI is primarily focused on the development of advanced AI systems that are truthful, competent, and maximally beneficial for all of humanity,鈥� the company said in a announcing the round. 鈥淭he company鈥檚 mission is to understand the true nature of the universe.鈥�

Just last week it also was xAI is planning to develop a massive computer 鈥� what Musk called a 鈥済igafactory of compute鈥� when speaking to investors 鈥� to train its next versions of its conversational AI.