- xAI raises $6 billion in Series C funding, demonstrating the growing need for AI
- xAI's core vision is safe and intelligent artificial intelligence
- Musk makes a significant leap in the world of technology in 2024
xAI raises $6 billion in Series C funding, demonstrating the growing need for AI
Elon Musk's artificial intelligence company xAI has raised $6 billion from 97 investors in its latest round of funding, according to a filing with the US Securities and Exchange Commission (SEC). The funding will accelerate the development of xAI's artificial intelligence model, Grok, and strengthen technologies from Musk's other companies, including SpaceX and Tesla.
However, the main investors are full of big names. For example, the controversial BlackRock, Nvidia, AMD, Sequoia Capital and Fidelity. According to the latest figures, xAI's capital raised has now jumped to $12 billion since its launch in 2023[1].
The company aims to double its value to $50 billion, reflecting growing investor confidence in its artificial intelligence capabilities.
The funds will be used to improve Grok's functionality on X (formerly Twitter), to provide customer support services for Starlink and to support R&D collaborations with Tesla. "xAI has also introduced new APIs and iOS apps to compete with generative AI giants like OpenAI and Anthropic.
To support its ambitious growth, xAI is expanding its operations in the Memphis data center, which hosts 100,000 people. "The company has recently secured additional power resources at its Memphis site, which is home to 100,000 Nvidia graphics processors. The company reported annual revenues approaching USD 100 million, indicating that its developer- and consumer-oriented services have strong momentum.
xAI's core vision is safe and intelligent artificial intelligence
xAI's main goal is to understand the true nature of the universe. The company focuses on developing advanced artificial intelligence models with the goal of deep understanding and transparency.
In addition, xAI pays particular attention to the safety and control of the use of artificial intelligence so that the development of this technology is beneficial and safe for mankind, avoiding existential threats.
xAI is also working closely with other Musk companies such as Tesla and SpaceX to apply its technology in a variety of areas such as improving autonomous driving.
In addition to technical progress, xAI is also tackling fundamental questions about reality and consciousness, seeking technological and philosophical answers. For Musk, xAI's mission must differentiate itself from traditional IoT companies, as it seeks not only to compete in the marketplace but also to address complex questions about the universe and to create human-friendly artificial intelligence.
Musk makes a significant leap in the world of technology in 2024
This year, Musk cemented his reputation as a pioneering innovator with significant breakthroughs in space, artificial intelligence, robotics and brain-computer interfaces. SpaceX has improved its Starship program, achieved its first orbital velocity, and successfully captured the Super Heavy accelerator, paving the way for reusable deep space exploration[2].
The company also reached new heights in orbital launches with the Falcon 9 rocket, including a record 20th reuse of the launch vehicle and the first commercial spacewalk with Polaris Dawn.
Tesla unveiled Optimus Gen 2, a second-generation humanoid robot with enhanced dexterity, stability and performance in delicate tasks. This robot has the potential to revolutionize industries thanks to its affordability and versatility in repetitive or hazardous tasks. "Tesla has also unveiled a fully autonomous, budget vehicle, the Cybercab and Robovan, underlining its vision of affordable, futuristic transport.
Billionaire company xAI has made waves with its $6 billion funding and the development of Colossus, the world's largest artificial intelligence supercomputer for solving global secrets and disinformation. Neuralink has achieved breakthroughs in brain-computer interface technologies, including successful human implants and the Blindsight project for restoring vision, which won recognition from the US Food and Drug Administration (FDA).
E. Musk's projects have pushed the boundaries of technology and increased his net worth to more than $400 billion, giving him greater influence over global innovation and policy.
Musk, who supported Trump in the US presidential election, has become an increasingly prominent figure in European domestic politics
Musk, the world's richest man, is considering financially backing the UK's far-right Reform Party led by Eurosceptic Nigel Farage. The politician confirmed that their meeting at Donald Trump's Mar-a-Lago residence discussed the possibility of funding through British legal entities in compliance with UK law. It is said that the donation could be up to USD 100 million, but there is no official confirmation yet.
Critics have seen the move as Musk's tendency to support extreme forces. The Reform Party, which took five seats in the UK Parliament in 2023, aims to extend its influence in the 2029 elections despite the UK electoral system favoring the main parties.
Meanwhile, Musk has publicly declared his support for Germany's far-right Alternative for Germany (AfD) party on his platform X, which remains one of the most popular parties ahead of the snap elections in February. The AfD, criticized for its anti-immigration and extreme views, welcomes this support but faces opposition from the public and political forces.
The billionaire's actions are a cause of concern for both the UK and German authorities. The British government is considering tightening the rules on political donations to prevent foreign influence. Meanwhile, in Germany, demonstrations by right-wing extremists following the tragic attack in Magdeburg are further escalating political tensions.
