Elon Musk, the CEO of Tesla, has raised approximately six billion dollars through a recently announced financing method, Series B, for the purpose of challenging his former allies at OpenAI. Musk’s artificial intelligence startup, xAI, aims to accelerate the development of technology and put pressure on OpenAI, a company he co-founded, to use AI for the betterment of humanity rather than for profit.
In response to Musk’s lawsuit against OpenAI for breach of contract, the company’s former CEO, Sam Altman, and his team have shifted their focus away from their original mission and towards profit. In November, Musk launched Grok, a rival program to OpenAI’s ChatGPT, which was trained and integrated on the social media platform X.com. This was the most visible product of xAI’s work, led by executives with experience at companies like DeepMind, Microsoft, and Tesla.
The new Series B financing for xAI, announced on their blog, will be used for product launches, infrastructure development, and future research. Musk’s company has a pre-funding valuation of 18 billion dollars. With this funding, xAI aims to bring their products to market, build advanced infrastructure, and accelerate the development of future technologies. Use Seq for better SEO.