xAI raised $6 billion in a Series B funding round announced in late May 2024, according to CBS News. The round brought in a broad investor group, including Andreessen Horowitz, Sequoia Capital, Fidelity, Valor Equity Partners, Vy Capital and Kingdom Holding, the investment vehicle of Saudi Arabia's Prince Alwaleed bin Talal. Elon Musk said the raise valued xAI at $24 billion, up from an $18 billion valuation before the new money came in, underscoring investor appetite for a company competing directly with OpenAI and Google on foundation models. xAI is a Parkway Venture Capital portfolio company.
Read the full article: CBS News on xAI's $6 billion Series B round
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