Musk raises $6 billion to fund his AI firm's projects

The goal is to bring xAI's first products to market, build advanced infrastructure and accelerate research and development of future technologies.

Entrepreneur Elon Musk raised 6 billion dollars (mdd) to finance projects of his company xAI, the artificial intelligence (AI) company, whose purpose is to understand the true nature of the universe, informed through a press release.

The goal of the fundraising, notes the text published on xAI's website, is to bring the startup's first products to market, build advanced infrastructure and accelerate research and development of future technologies.

Musk's AI firm was unveiled by the billionaire in July last year as a rival to OpenAI, Google and Microsoft, and has so far introduced Grok, a supposedly more cutting-edge version of ChatGPT, available through X for premium subscribers.

Funding for this round came from several sources, according to xAI, including Andreessen Horowitz, Sequoia Capital and Saudi Arabian prince Al Waleed bin Talal.

xAI "has made significant progress over the past year" and will continue "on this steep trajectory of progress over the coming months, with multiple technology upgrades and exciting products soon to be announced," he said.

xAI is primarily focused on developing advanced AI systems "that are truthful, competent and maximally beneficial to all mankind". 

Collaboration: Grupo Auge | Forbes.