TapTechNews May 24th news, according to Bloomberg citing informed sources, Elon Musk's artificial intelligence company xAI will complete a round of financing in June, and the valuation after financing may exceed 24 billion US dollars (TapTechNews note: currently about 174 billion yuan).
Reports said that the company was originally scheduled to complete about 6 billion US dollars (currently about 43.5 billion yuan) in financing earlier this month, but the transaction that has been ongoing since last year has not been finally completed.
The person, who requested anonymity, said that xAI has recently been seeking up to 6.5 billion US dollars (currently about 4.7125 billion yuan) in funds and plans to get closer to this goal in the next few weeks.
xAI was established in July 2023 and launched its first product, the Grok chatbot, in November last year. Recently, xAI demonstrated the Grok-1.5Vision multimodal model, which can handle images, documents and table contents in addition to text.
The new round of financing helps xAI obtain more AI computing power resources to compete with models of rivals such as openAI and Anthropic: Elon Musk recently said that xAI's next-generation Grok model is being trained on 20,000 Nvidia H100s, and the demand for AIGPUs for the future Grok3 will also increase to 100,000.