- Startup: Proptech, Fintech.
- Founding date: 2020.
- Country: UAE.
- Investors: Prince Alwaleed Bin Talal, Kingdom Holding, Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, MIS.
xAI, the San Francisco-based AI company, announced raising a Series B round of $6B with participation from Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, KSA’s MIS, amongst others.
xAI has made significant strides over the past year. From the announcement of the company in July 2023, to the release of Grok-1 on X in November, to the recent announcements of the improved Grok-1.5 model with long context capability, to Grok-1.5V with image understanding, xAI’s model capabilities have improved rapidly. With the open-source release of Grok-1, xAI has opened doors for advancements in various applications, optimizations, and extensions of the model.
Focused primarily on the development of advanced AI systems, that are truthful, competent, and maximally beneficial for all of humanity according to the company.
xAI was founded in 2023 by Elon Musk, X – formerly Twitter which explains the letter X in xAI, and released AI assistant Grok-1 on X in November, then the improved Grok-1.5 model with long context capability, and recently Grok-1.5V with image understanding.
According to the Saudi-listed company, MIS, which invested $1M in xAI, the round came at a $18B valuation.