Elon Musk's xAI raises $6 billion in new capitalization

The investment raises the company's valuation to $24 billion.

xAI, Elon Musk's artificial intelligence company, reported that it achieved an investment of $6 billion with the participation of companies such as Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, among others.

"xAI will continue on this steep trajectory of progress over the coming months, with multiple exciting technology updates and products soon to be announced. The funds from the round will be used to take xAI’s first products to market, build advanced infrastructure, and accelerate the research and development of future technologies", xAI said in a statement published on its official website.

This latest capitalization, which includes well-known venture investors and a Saudi prince, raises the total valuation of the company - according to AFP - to 24 billion dollars, based on a figure prior to the injection of funds from 18 billion dollars cited by Musk himself.

According to AFP, earlier this month Musk told investors that he planned to build a supercomputer dubbed a "computing gigafactory" to support the development of xAI. The supercomputer in question would be "at least four times the size of the largest GPU clusters that exist today."