Musk’s AI Enterprise, Responsible for Grok, Envisioned to Arrive at $18 Billion Valuation. Can It Surpass OpenAI?

Interesting information emerged on Thursday in accordance to Bloomberg, reporting that Elon Musk’s slicing-edge artificial intelligence (AI) task xAI is on the brink of achieving a amazing valuation of $18 billion in its most current funding spherical.

In late April, it was unveiled that the AI startup was on the verge of securing a sizeable $6 billion in funding, with renowned individuals like Sequoia Money from Menlo Park joining in.

Back in July 2023, Musk introduced the xAI undertaking with the intention of competing from set up players like OpenAI, regarded for its well known ChatGPT chatbot.

The startup unveiled its own generative AI chatbot named Grok in December, special for paying subscribers on the X social media system (beforehand recognised as Twitter).

In March, xAI declared the rollout of Grok-1.5, an upgraded edition of Musk’s AI chatbot developed to excel in coding and mathematical tasks.

In spite of the new funding boost, surpassing OpenAI will present a considerable problem, as the rival now retains an remarkable $80 billion valuation. Even so, the AI marketplace is bustling with exercise, with startups like Perplexity, Atlan, Wayve, Mistral, and Aleph Alpha securing sizeable funding and generating waves in the tech sphere.