Elon Musk’s AI startup xAI now worth $24 bln

In a significant move, Elon Musk’s AI startup, xAI, has raised a staggering $6 billion in Series B funding, valuing the company at $24 billion post-money. Backed by prominent investors like Andreessen Horowitz and Sequoia Capital, the funds will be utilized for launching initial products, developing infrastructure, and accelerating research and development. xAI has already released Grok, a conversational AI chatbot, and PromptIDE, an IDE for prompt engineering. Illustration: Tech & Startup Desk