The AI firm shared the development on X, and reacting to it, the TEC billionaire said, "There will be more to announce in the coming weeks."
In another post, Musk said that the pre-money valuation was $18 billion.
The company also said that funds from the Series B funding round will be used to bring XAI's first products to market and build advanced infrastructure.
"XAI is primarily focused on the development of advanced AI systems that are truthful, efficient, and maximally beneficial to all of humanity. The company's mission is to understand the true nature of the universe," the company said in a blog post.
XAI, which has unveiled an AI chatbot called 'Grok', has raised funding from investors including Valor Equity Partners, VY Capital, Andreessen Horowitz Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed B Talal and Kingdom Holding, among others.
Additionally, xAI said it will announce more technology updates and products soon.
Earlier this year, xAI raised $500 million in commitments from investors towards its $1 billion goal.
Founded in 2023, xAI unveiled its first AI product in November last year, recently announced the Grok-1.5 model with long context capability, as well as the Grok-1.5V with image understanding.
In another post, Musk said that the pre-money valuation was $18 billion.
The company also said that funds from the Series B funding round will be used to bring XAI's first products to market and build advanced infrastructure.
"XAI is primarily focused on the development of advanced AI systems that are truthful, efficient, and maximally beneficial to all of humanity. The company's mission is to understand the true nature of the universe," the company said in a blog post.
XAI, which has unveiled an AI chatbot called 'Grok', has raised funding from investors including Valor Equity Partners, VY Capital, Andreessen Horowitz Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed B Talal and Kingdom Holding, among others.
Additionally, xAI said it will announce more technology updates and products soon.
Earlier this year, xAI raised $500 million in commitments from investors towards its $1 billion goal.
Founded in 2023, xAI unveiled its first AI product in November last year, recently announced the Grok-1.5 model with long context capability, as well as the Grok-1.5V with image understanding.
