TechFlow news, December 24 — According to Forbes, Elon Musk's xAI company announced on Monday that it raised $6 billion in its Series C funding round, pushing its valuation above $40 billion as the company continues to strengthen its artificial intelligence products and infrastructure.
Investors include Blackrock, A16Z, Kingdom Holding Company (a Saudi conglomerate), Fidelity, and Sequoia Capital. The latter three also participated in xAI’s $6 billion Series B round in May.
In its funding announcement, xAI said it is training Grok 3. According to a tweet by Musk in June, Grok 3 has not yet been released and is expected to launch by the end of the year.
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