In today’s episode of the Investment & Exits with Peak podcast, Peak’s very own Philippe Klitzing discusses with Jan Thomas from Startup Insider the financing round of Elon Musk’s xAI. How will xAI use the $6 billion funding to compete in the AI industry?
xAI has closed a $6 billion Series B financing round, resulting in a valuation of $24 billion. Key investors include Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, and Prince Alwaleed Bin Talal of Saudi Arabia and his Kingdom Holding. The funds will be used to bring xAI’s next products to market, build an advanced infrastructure and accelerate the research and development of future technologies. Since its launch in July 2023, xAI has made significant progress, including the release of Grok-1 and improvements with Grok-1.5, which features long-context capability and image understanding.
You can find the episode of Investments & Exits with Peak on your favorite podcast platform, linked below. And, if you want your recent funding round to be discussed next time feel free to reach to us!