Nevertheless, the deals — and xAI’s developer and consumer-facing products — have driven xAI’s revenue to around $100 million a year. For comparison, Anthropic is reportedly on pace to generate $1 billion in revenue this year, and OpenAI is targeting $4 billion by the end of 2024.

In total, 97 investors were involved in this round of funding, with the minimum investment per participant pegged at $77,593. Investors were only allowed to participate

Elon Musk's AI company, xAI, raised $6 billion, doubling its funding to $12 billion and its valuation to over $40 billion.

Elon Musks xAI has closed a $6 billion funding round powered by NVIDIA and AMD investments. The funding will scale AI supercomputers, train Grok 3, and support the launch of innovative consumer and enterprise products.

AI is planning to make Grok publicly accessible as a separate app on iOS. Musk’s AI has become incredibly competitive, as predicted by the OpenAI CEO.

Elon Musk's xAI is testing a standalone Grok AI app for iOS, aiming to enhance AI accessibility for iPhone users.

A lot of compute is needed,” Mr. Musk said in a post about the financing, in which BlackRock, Fidelity and Sequoia participated.

Elon Musk's xAI has raised $6 billion in its latest funding round, pushing its total capital raised to $12 billion at a valuation of $50 billion, reports TechCrunch. The round, which involved 97 investors,

Elon Musk’s artificial intelligence startup xAI revealed that it raised $6 billion in its latest funding round as the startup continues to ramp up in its battle against bitter rival OpenAI. Musk took a victory lap after announcing Monday on his social media platform X that the company concluded its Series C funding round — which is usually the final stage of venture capital financing.