{"id":4920,"date":"2024-05-28T12:32:07","date_gmt":"2024-05-28T12:32:07","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/05\/28\/elon-musks-ai-startup-now-valued-at-24-billion-after-fresh-funding\/"},"modified":"2024-05-28T12:32:07","modified_gmt":"2024-05-28T12:32:07","slug":"elon-musks-ai-startup-now-valued-at-24-billion-after-fresh-funding","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/05\/28\/elon-musks-ai-startup-now-valued-at-24-billion-after-fresh-funding\/","title":{"rendered":"Elon Musk\u2019s AI startup now valued at $24 billion after fresh funding"},"content":{"rendered":"<p class=\"\">Elon Musk\u2019s 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.<\/p>\n<p class=\"\">The funding round was backed by investors including Andreessen Horowitz and Sequoia Capital, the company said in a blog post on Sunday.<\/p>\n<div><\/div>\n<p class=\"\">The company\u2019s pre-money valuation was $18 billion, Musk said\u00a0in a post on X. <\/p>\n<p class=\"\">The money will be used to take xAI\u2019s first products to market, build advanced infrastructure and accelerate research and development of future technologies, xAI said.<\/p>\n<p class=\"\">\u201cThere will be more to announce in the coming weeks,\u201d Musk said in another X post, in response to the announcement of the funding.<\/p>\n<p class=\"endmark\">Companies like Microsoft-backed OpenAI and Alphabet\u2019s Gemini\u00a0are among those leading the fierce race for generative AI dominance, driving significant investments and innovation in the rapidly evolving landscape.<\/p>\n<\/p>\n<div>This post appeared first on NBC NEWS<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk\u2019s 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 [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":4921,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/4920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=4920"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/4920\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/4921"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=4920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=4920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=4920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}