Firas Nassif’s Post

View profile for Firas Nassif, graphic

Relationship Manager | Business Development

Elon Musk’s AI Startup xAI Hits $50 Billion Valuation Elon Musk’s AI company, xAI, has raised $5 billion in a new funding round, boosting its valuation to $50 billion—more than double its value in May. Founded just a year ago, xAI aims to compete with established AI players like OpenAI. Despite its newness, the startup generates $100 million annually through its Grok chatbot, used by premium members on Musk’s X platform and some business clients. An upgraded version of Grok is set to launch next month. AI continues to drive massive investments, boosting demand for data center equipment and power sources. With companies spending heavily on AI, the sector shows little sign of slowing down, with Nvidia and xAI fueling the growing frenzy. Source: Finimize

  • No alternative text description for this image

To view or add a comment, sign in

Explore topics