Nevertheless, the deals — and xAI’s developer and consumer-facing products — have driven xAI’s revenue to around $100 million a year. For comparison, Anthropic is reportedly on pace to generate $1 billion in revenue this year, and OpenAI is targeting $4 billion by the end of 2024.

A lot of compute is needed,” Mr. Musk said in a post about the financing, in which BlackRock, Fidelity and Sequoia participated.

In total, 97 investors were involved in this round of funding, with the minimum investment per participant pegged at $77,593. Investors were only allowed to participate

Meet the key figures at Elon Musk's xAI, the $50 billion startup behind the chatbot Grok that's taking on ChatGPT.

Elon Musk's xAI has secured a totak of $6 billion in Series C funding, bringing its total funding to $12 billion.

Elon Musk's AI company, xAI, raised $6 billion, doubling its funding to $12 billion and its valuation to over $40 billion.

Elon Musk's xAI has raised $6 billion in its latest funding round, pushing its total capital raised to $12 billion at a valuation of $50 billion, reports TechCrunch. The round, which involved 97 investors, followed a doubling of xAI's valuation within six months and solidified the company's position as a growing competitor in the AI sector.

Elon Musk's AI startup, xAI, has successfully raised another $6 billion in Series C funding. This funding will be used to enhance their computing infrastructure and more.

Elon Musks xAI has closed a $6 billion funding round powered by NVIDIA and AMD investments. The funding will scale AI supercomputers, train Grok 3, and support the launch of innovative consumer and enterprise products.