Musk's xAI Raises $6 Billion in Series C Funding
Summary
- Elon Musk's xAI announced that it has raised 8.7 trillion won in Series C funding.
- The participation of major investors like BlackRock and Morgan Stanley, along with infrastructure support from NVIDIA and AMD, is drawing significant attention.
- xAI reported that it has been recognized with a corporate valuation of at least 58 trillion won with this investment.
Elon Musk's artificial intelligence (AI) company xAI has secured $6 billion (approximately 8.7 trillion won) in funding.
xAI announced on X that it had raised $6 billion in Series C funding. This comes seven months after securing $6 billion in Series B funding last May. xAI is an AI development company founded by Musk in July last year.
The investment round included participation from BlackRock, Morgan Stanley, Andreessen Horowitz (a16z), Fidelity, and Sequoia Capital. xAI stated, "Strategic investors NVIDIA and AMD also participated in this round, actively supporting xAI's infrastructure expansion."
With this investment, xAI is reported to have been valued at a minimum of $40 billion (approximately 58 trillion won). The company's valuation during the Series B funding round seven months ago was $24 billion (approximately 34.85 trillion won).
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
