Nevertheless, the deals — and xAI’s developer and consumer-facing products — have driven xAI’s revenue to around $100 million a year. For comparison, Anthropic is reportedly on pace to generate $1 billion in revenue this year, and OpenAI is targeting $4 billion by the end of 2024.

CNBC reported xAI was eyeing a $50 billion valuation, a huge jump from its value six months ago. The Financial Times reported that only investors who had backed xAI in its previous fundraising round were permitted to participate in this one.

Elon Musk xAI raises $6B, totaling $12B funding amid lawsuits against OpenAI, and Microsoft over alleged anti-competitive practices.

Elon Musk's xAI secures $6B in a Series C with BlackRock, a16z; focuses on AI infrastructure expansion, including Colossus upgrades.

Tesla's Musk tests xAI's Grok chatbot app for iOS, also launching Grok.com. xAI's $50B valuation surpasses OpenAI after acquiring $5B in funding.

AI has successfully closed its Series C funding round, raising $6 billion with participation from investors such as A16Z, BlackRock, Morgan Stanley, Fidelity Management & Research Company, Lightspeed,