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Elon Musk's xAI Secures $6 Billion from Valor, a16z, and Sequoia

In one of the largest deals in the red-hot nascent field, Elon Musk's artificial intelligence business, xAI, has raised $6 billion in a fresh investment round, according to the company's announcement today. This comes as Musk is now bolstering his money in order to aggressively battle with competitors such as OpenAI, Microsoft, and Google.

A number of investors, including Valor Equity Partners, a16z, and Sequoia Capital, have contributed to xAI's Series B fundraising, as stated in a blog post published by the business.

Musk has disclosed that the pre-money valuation of the financing round was determined to be $18 billion.

As one of the earliest and most prominent entrepreneurs in the field of artificial intelligence, Musk is a pioneer. He is the CEO of Tesla, the leading electric vehicle (EV) carmaker with self-driving technologies. Additionally, he is a co-founder of OpenAI, a firm with which he has contributed tens of millions of dollars in investment capital. With the passage of time, Musk's affection for OpenAI has diminished.