In accordance to a Thursday report by Bloomberg, Elon Musk’s synthetic intelligence (AI) enterprise xAI is on the cusp of reaching a valuation of $18 billion after its newest funding spherical.
In late April, the enterprise outlet reported that the AI startup was nearing a deal to safe $6 billion in funding from such big-name individuals as Menlo Park-headquartered enterprise capital agency Sequoia Capital.
Musk launched the xAI enterprise again in July 2023 so as to compete with the likes of OpenAI, which managed to acquire plenty of prominence due to its viral ChatGPT chatbot.
The startup launched its personal generative AI chatbot referred to as Grok in December for paying subscribers on the X social media community (previously Twitter).
In March, xAI introduced the launch of Grok-1.5, an enhanced model of Musk’s AI chatbot. The improved model is meant to be higher at coding in addition to mathematical duties.
Even with the newest funding, it will likely be extremely difficult for OpenAI to leapfrog OpenAI. The latter is now valued at a whopping $80 billion following a current deal.
Different AI startups are additionally seeing vital funding. As an example, search startup Perplexity is now valued at $1 billion after securing a $63 million funding spherical spearheaded by investor Daniel Gross. Earlier this week, AI startup Atlan reached a valuation of $750 million after elevating $105 million. In the meantime, British self-driving startup Wayve has secured $1 billion in funding from the likes of Japan’s Softbank. Mistral and Aleph Alpha have been additionally among the many startups that lately secured large funding rounds.
Musk’s AI Startup Behind Grok to Get $18 Billion Valuation. Will It Leapfrog OpenAI? u.in the present day 2024-05-09 06:09:03
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