Elon Musk’s artificial intelligence company is moving fast. And they are raising capital even faster.
What’s happening:
- Elon Musk’s artificial intelligence company xAI has raised $6B USD in a new financing round according to new documents filed with the United States Securities and Exchange Commission
- The new financing round included participation from the Qatar Investment Authority and Valor Equity Partners
Why it matters:
- xAI has been scaling up at a rapid pace since first being launched, previously raising $6B USD in an initial funding round that was led by a16z and Sequoia Capital
By the numbers:
- xAI has now raised a total of $12B USD in venture capital funding since inception
Going deeper:
- xAI has also made waves for the unprecedented speed of their build out of a new data centre in Memphis, Tennessee that hosts more than 100,000 Nvidia (NASDAQ: NVDA) GPUs
The intrigue:
- Elon Musk has recently publicly stated that xAI will also build out a video game studio focused on using generative artificial intelligence technology to develop new types of video games
