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

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.

The development of Aurora, xAI’s image generation system, enters a rapidly growing market for AI-generated content, which is projected to reach $110 billion by 2030. Early demonstrations of Aurora have shown promising results in creating highly detailed and contextually accurate images.

Billionaire tech mogul Elon Musk’s startup xAI said it had raised US$6 billion (RM27 billion) from investors in its latest funding round, as it battles

Meet the key figures at Elon Musk's xAI, the $50 billion startup behind the chatbot Grok that's taking on ChatGPT.

Elon Musk's xAI secures $6B in a Series C with BlackRock, a16z; focuses on AI infrastructure expansion, including Colossus upgrades.

Elon Musk’s startup xAI said it had raised $6 billion in fresh funding from investors, as it battles stiff competition

Elon Musk's AI company, xAI, raised another $6 billion in funding, TechCrunch reported via the U.S. Securities and Exchange Commission. The filing reports that each investor, of nearly 100, had to give a minimum of $77,

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,