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.

The development of Aurora, xAI’s image generation system, enters a rapidly growing market for AI-generated content, which is projected to reach $110 billion by 2030. Early demonstrations of Aurora have shown promising results in creating highly detailed and contextually accurate images.

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 AI company, xAI, raised another $6 billion in funding, TechCrunch reported via the U.S. Securities and Exchange Commission. The filing reports that each investor, of nearly 100, had to give a minimum of $77,

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,

Elon Musk’s artificial intelligence venture xAI has attracted funding from regional investors including Saudi Arabia’s Kingdom Holding, the Qatar Investment Authority and the Oman Investment Authority.