- Home
- Technology
- News
Elon Musk's xAI valued at $24bn after fresh funding
The company's pre-money valuation was $18 billion, Musk said in a post on X, opens new tab

(Reuters): 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, opens new tab.
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 (MSFT.O), opens new tab backed OpenAI and Alphabet's (GOOGL.O), opens new tab are among those leading the fierce race for generative AI dominance, driving significant investments and innovation in the rapidly evolving landscape.

Eight Sleep adds ‘outage mode’ to smart beds after AWS problems left them frozen
- 3 hours ago

Inside the audacious mission to bring a rare toad back from the brink
- an hour ago

What are gold prices in Pakistan, global markets?
- 2 hours ago

Meta is reportedly downsizing its legacy AI research team
- 12 hours ago

Wyze’s new solar-powered pan-and-tilt security camera is less than $80
- 12 hours ago

Whisker’s latest Litter-Robot uses AI to recognize your cat’s face and poop
- 12 hours ago
After five years PIA resumes flight operation for UK
- an hour ago

Oura redesigns app with expanded stress tracking
- 12 hours ago

How the US turned sports into one big casino
- 10 hours ago
Army, nation united against any enemy aggression: ISPR DG
- 2 hours ago

Fast fashion lifted some countries out of poverty. What happens when Americans stop buying?
- 10 hours ago

Hayes irked by 'unrecognizable' USWNT in loss
- 10 minutes ago











