28
May
Elon Musk’s generative AI startup, xAI, officially announced its long-awaited fundraise — making it the second-most-valuable generative AI company in the world behind only competitor OpenAI. The $6 billion round included investment from Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Co., Prince Alwaleed Bin Talal and Kingdom Holding Co., among others. The new funding values the company at $24 billion post money, well behind OpenAI’s $86 billion valuation but well ahead of the $18 billion generative AI startup Anthropic is now valued at after its last raise. It was reported earlier this month that…