this post was submitted on 25 Dec 2024
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54
Elon Musk's xAI raises $6B to build more powerful AI supercomputers (www.tomshardware.com)
submitted 1 day ago by Xatolos@reddthat.com to c/technology@lemmy.world
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[–] sunzu2@thebrainbin.org 40 points 1 day ago (3 children)

Elon Musk's xAI has raised $6 billion in its latest funding round, pushing its total capital raised to $12 billion at a valuation of $50 billion, reports TechCrunch. The round, which involved 97 investors, followed a doubling of xAI's valuation within six months and solidified the company's position as a growing competitor in the AI sector.

Major investors in this funding round include Nvidia, AMD, Andreessen Horowitz, Blackrock, Fidelity, Kingdom Holdings, and Sequoia Capital, among others. Only previous investors who backed Musk's earlier ventures, such as the Twitter acquisition, could participate. The minimum investment per participant was $77,593, but the identities of most investors remain undisclosed.

There is a club...

[–] IcyToes@sh.itjust.works 16 points 1 day ago (1 children)

The cult of musk. If you raise from your fan club you don't get held to account.

[–] sunzu2@thebrainbin.org 7 points 1 day ago

Musk + Nvidia, AMD, Andreessen Horowitz, Blackrock, Fidelity, Kingdom Holdings, and Sequoia Capital

How much shit do they have over daddy Sam?

Asking for a friend.

[–] VubDapple@lemmy.world 13 points 1 day ago* (last edited 1 day ago)

"And you ain't in it!"

[–] wewbull@feddit.uk 7 points 1 day ago

Well Nvidia and AMD will get their money (and possibly some other investors money too) straight back in equipment purchases.