Elon Musk’s startup xAI recently announced a $6 billion Series B funding round. This funding will enable xAI to launch its first products, develop advanced infrastructure, and expedite research and development. Saudi Arabia has emerged as a key investor in this round. Specifically, Kingdom Holding and Prince Alwaleed Bin Talal are among the top investors, alongside Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, and Fidelity Management & Research Company.
Additionally, in 2022, Kingdom Holding and Prince Alwaleed maintained their $1.89 billion stake in social media platform X after Musk took over the company, making them the second-largest investors in the platform.
xAI has made significant strides over the past year. The company released Grok-1 on X in November and recently updated the Grok-1.5 model to include long context capability. Additionally, xAI launched Grok-1.5V with image understanding and released Grok-1 as open source. These advancements pave the way for various applications, optimizations, and extensions of the model. The company’s blog posted the progress they had made. Truthful, competent, and beneficial AI models for all of humanity are aimed to be developed by xAI.
With this new funding, xAI is set to continue its steep trajectory of progress. The startup focuses on creating AI systems that enhance human capabilities and provide substantial benefits. The support from Saudi Arabia and other major investors underscores the growing confidence in xAI’s mission and potential.
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