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

IRS plans to pay 1 million taxpayers up...

December 25, 2024

Walmart-backed fintech One introduces buy now, pay later...

April 25, 2024

JetBlue talking to ‘multiple airlines’ about a new...

February 21, 2025

The Fed may soon cut interest rates. That...

July 11, 2024

Nvidia CEO Jensen Huang’s net worth swells from...

May 27, 2024

Weekly mortgage demand drops to three-month low as...

May 30, 2024

Bed Bath & Beyond relaunches with first store...

August 15, 2025

Why Ford believes its $1.9 billion shift in...

August 24, 2024

Boeing workers to vote on new proposal that...

October 22, 2024

Ford and Mazda issue do-not-drive warnings for 457,000...

August 14, 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

    • Ben & Jerry’s co-founder resigns, claiming parent company Unilever ‘silenced’ its campaigning

      October 10, 2025
    • The Real Drivers of This Market: AI, Semis & Robotics

      October 10, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      October 10, 2025
    • Could Trump win the Nobel Peace Prize after Israel-Hamas deal?

      October 10, 2025
    • RFK Jr shocked over pregnant moms protesting Trump with Tylenol: ‘Pathological’

      October 10, 2025
    • Top insurance CEO in the hot seat after scathing ad campaign exposes China ties

      October 10, 2025

    Categories

    • Business (1,416)
    • Politics (4,700)
    • Stocks (1,699)
    • Uncategorized (45)
    • World News (1,409)
    • 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