Elon Musk's AI startup, xAI, revealed on Thursday that it has secured approximately $6 billion in funding as it strives to compete with other companies in the AI industry.
The funding comes as xAI plans to grow in the AI industry by upgrading its supercomputer in Memphis, Tennessee, to support at least one million graphics processing units.
Musk, who started xAI in 2023, broadened his lawsuit against OpenAI last month, claiming that OpenAI attempted to illegally monopolize the generative AI market and exclude rivals.
CNBC reported on November that xAI was raising $6 billion with a post-raise valuation seen at more than $50 billion.
In October, OpenAI completed a $6.6 billion funding round, bringing its valuation to $157 billion.
Source: Reuters
Bd-pratidin English/ Afia
