xAI, Elon Musk's AI startup, is reportedly in negotiations for a $20 billion funding round that will elevate its value to $120 billion. This effort follows recent acquisitions, including Hotshot, an AI image generation platform. The startup has established its "Colossus" mega data center at an unprecedented pace, aligning its computing capabilities with industry leaders like OpenAI. Despite being outmatched by Meta’s resources, xAI's new chatbot, Grok, and other tools position it as a significant contender in the evolving AI landscape.
Fresh off acquiring X, as well as AI image generation system Hotshot, it seems that xAI is now moving to further solidify its financial footing.
According to a report from Bloomberg, Elon Musk's AI project is in talks with investors on a new $20 billion funding round, which would value xAI at $120 billion.
xAI developed its "Colossus" mega data center in record time, which immediately brought it into line, in compute terms, with OpenAI and other AI projects.
But xAI, with its Grok chatbot, and other tools, is now big enough to be considered a legitimate contender in the AI shift.
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