{"id":4017,"date":"2024-05-28T15:27:15","date_gmt":"2024-05-28T15:27:15","guid":{"rendered":"https:\/\/dailywashingtoninsider.com\/index.php\/2024\/05\/28\/elon-musks-ai-startup-now-valued-at-24-billion-after-fresh-funding\/"},"modified":"2024-05-28T15:27:15","modified_gmt":"2024-05-28T15:27:15","slug":"elon-musks-ai-startup-now-valued-at-24-billion-after-fresh-funding","status":"publish","type":"post","link":"https:\/\/dailywashingtoninsider.com\/index.php\/2024\/05\/28\/elon-musks-ai-startup-now-valued-at-24-billion-after-fresh-funding\/","title":{"rendered":"Elon Musk\u2019s AI startup now valued at $24 billion after fresh funding"},"content":{"rendered":"<p class=''>Elon Musk\u2019s AI startup xAI raised $6 billion in series B funding, reaching a post-money valuation of $24 billion as investors bet big on challengers to companies like OpenAI in the intensifying AI race.<\/p>\n<p class=''>The funding round was backed by investors including Andreessen Horowitz and Sequoia Capital, the company said in a blog post on Sunday.<\/p>\n<div id='taboolaReadMoreBelow'><\/div>\n<p class=''>The company\u2019s pre-money valuation was $18 billion, Musk said&nbsp;in a post on X. <\/p>\n<p class=''>The money will be used to take xAI\u2019s first products to market, build advanced infrastructure and accelerate research and development of future technologies, xAI said.<\/p>\n<p class=''>\u201cThere will be more to announce in the coming weeks,\u201d Musk said in another X post, in response to the announcement of the funding.<\/p>\n<p class='endmark'>Companies like Microsoft-backed OpenAI and Alphabet\u2019s Gemini&nbsp;are among those leading the fierce race for generative AI dominance, driving significant investments and innovation in the rapidly evolving landscape.<\/p>\n<\/p>\n<div>This post appeared first on NBC NEWS<\/div>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk\u2019s AI startup xAI raised $6 billion in series B funding, reaching a post-money&hellip;<\/p>\n","protected":false},"author":1,"featured_media":4018,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-4017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/posts\/4017","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/comments?post=4017"}],"version-history":[{"count":0,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/posts\/4017\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/media\/4018"}],"wp:attachment":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/media?parent=4017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/categories?post=4017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/tags?post=4017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}