- Elon Musk’s AI startup xAI has been valued at $50 billion after 16 months.
- Other companies near xAI’s valuation include Shein, Revolut, and Stripe.
Elon Musk has a certified rocketship in his hands — and no, we’re not talking about SpaceX.
One of his other companies, his artificial intelligence startup xAI, has catapulted from launch just 16 months ago into an AI company now worth a reported $50 billion.
The chart below helps put that meteoric rise into perspective.
How does that $50 billion valuation compare to the competition?
It took OpenAI, last valued at $157 billion in October, 9 years to pass the $50 billion milestone, according to PitchBook.
Elon Musk, starting with a team of 12 people back in July 2023, did it in less than a year and a half.
Other companies currently valued around the $50 billion mark include fast-fashion giant Shein, which was valued at $66 billion in May 2023. Revolut, a London-based finance app was valued at $45 billion in August. Stripe, an online payment processing platform was valued at $70 billion in July.
Rival AI startups, including Anthropic and Perplexity, have yet to reach the $50 billion benchmark. Anthropic, launched in 2021, is valued at approximately $19 billion; while Perplexity, founded in 2022, is valued at $2.8 billion, according to PitchBook.
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