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xAI Secures $6 Billion in Series C Funding with Major Investors
In a groundbreaking move, xAI has successfully closed its Series C funding round, securing a staggering $6 billion in investments from prominent investors and strategic partners. The announcement marks a significant milestone for the company as it looks to expand its influence in the AI sector.
As reported by sources close to the deal, A16Z, Blackrock, Fidelity Management & Research Company, Kingdom Holdings, Lightspeed, MGX, Morgan Stanley, OIA, QIA, Sequoia Capital, Valor Equity Partners, and Vy Capital have all contributed to the $6 billion funding. Additionally, strategic partners NVIDIA and AMD have also joined the round.
The substantial sum will be utilized by xAI to enhance its infrastructure and expedite the development of groundbreaking AI products. The company aims to deploy these technologies across both consumer and enterprise markets, with far-reaching implications for how individuals and businesses operate.
Since announcing its Series B funding in May 2024, xAI has made significant technical advancements. Notably, it has launched several key initiatives, including the Colossus supercomputer, Grok 2 language model, and xAI API. The Colossus supercomputer, powered by 100,000 NVIDIA Hopper GPUs, gained operational status in just 122 days, a feat that has set a new standard in the industry. Plans are underway to double its capacity using NVIDIA’s Spectrum-X Ethernet networking platform.
The company’s development efforts have also yielded Grok 2, a revolutionary language model renowned for its advanced reasoning capabilities. Furthermore, xAI API provides developers with programmatic access to the company’s foundational models, allowing for low-latency, multi-region inference deployments globally. The Aurora autoregressive image generation model has also enhanced xAI’s multimodal capabilities, enabling sophisticated image editing and creation.
In addition, xAI is working on Grok 3, its most powerful AI model to date, which is currently undergoing training. This highly anticipated model will play a pivotal role in the company’s future product offerings.
xAI remains committed to creating truthful, competent, and beneficial AI systems for humanity. To achieve this mission, it is actively recruiting individuals who are driven by a desire to make a significant impact on the future of technology and society.
The Series C funding marks a critical juncture for xAI as it continues to expand its presence in the AI sector. By leveraging new technologies and partnerships, the company is poised to transform various aspects of life and work, ultimately fulfilling its mission to comprehend the universe’s true nature.
Source: Blockchain.News
