The funding round was backed by investors including
Andreessen Horowitz and Sequoia Capital, the company said in a blog post on
Sunday.
The company's pre-money valuation was $18 billion, Musk said
in a post on X.
The money will be used to take xAI's first products to
market, build advanced infrastructure and accelerate research and development
of future technologies, xAI said.
"There will be more to announce in the coming
weeks," Musk said in another X post, in response to the announcement of
the funding.
Companies like Microsoft backed OpenAI and Alphabet's are
among those leading the fierce race for generative AI dominance, driving
significant investments and innovation in the rapidly evolving landscape. Reuters