The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

World News

Elon Musk’s AI startup now valued at $24 billion after fresh funding

by admin May 28, 2024
May 28, 2024
Elon Musk’s AI startup now valued at $24 billion after fresh funding

Elon Musk’s AI startup xAI raised $6 billion in series B funding, reaching a post-money valuation of $24 billion as investors bet big on challengers to companies like OpenAI in the intensifying AI race.

The funding round was backed by investors including Andreessen Horowitz and Sequoia Capital, the company said in a blog post on Sunday.

The company’s pre-money valuation was $18 billion, Musk said in a post on X.

The money will be used to take xAI’s first products to market, build advanced infrastructure and accelerate research and development of future technologies, xAI said.

“There will be more to announce in the coming weeks,” Musk said in another X post, in response to the announcement of the funding.

Companies like Microsoft-backed OpenAI and Alphabet’s Gemini are among those leading the fierce race for generative AI dominance, driving significant investments and innovation in the rapidly evolving landscape.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
This Simple Little Option Is A HUGE Productivity Booster
next post
Shaking seats and piped-in fog: How 4DX is carving out a niche moviegoing market

Related Posts

Target CEO to meet with Rev. Al Sharpton...

April 18, 2025

FTC chair hopes Amazon, Facebook won’t get ‘sweetheart...

January 8, 2025

Why ‘wardrobing’ retail fraud soars in the summer

August 9, 2024

The collapse of a fintech firm with 10...

May 23, 2024

Bronfman’s Paramount bid could keep Shari Redstone involved...

August 27, 2024

He plays rich on screen but dreams of...

July 12, 2024

Trader Joe’s-branded cashews sold in 16 states recalled...

March 19, 2024

New Boeing CEO to give clues about company’s...

October 24, 2024

Procter & Gamble to cut 7,000 jobs as...

June 12, 2025

Summer box office bust? This season’s movie slate...

May 9, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Rhode Island’s ‘Taylor Swift Tax’ on vacation homes of the wealthy is spreading to other states

      September 2, 2025
    • The Real Drivers of This Market: AI, Semis & Robotics

      September 2, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      September 2, 2025
    • Bernie Sanders calls for RFK Jr. to resign as HHS secretary over vaccine policies: ‘Rally the American people’

      September 2, 2025
    • Rhode Island’s ‘Taylor Swift Tax’ on vacation homes of the wealthy is spreading to other states

      September 2, 2025
    • The Real Drivers of This Market: AI, Semis & Robotics

      September 1, 2025

    Categories

    • Business (1,371)
    • Politics (4,373)
    • Stocks (1,623)
    • Uncategorized (45)
    • World News (1,364)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved