X.AI Corp. Eyes $6 Billion Funding Round, Backed by Sequoia Capital
- X.AI Corp., led by Elon Musk, closing funding round at $18 billion valuation.
- Funding round aimed at $6 billion, with Sequoia Capital among participants, showcasing investor confidence.
- X.AI Corp. leveraging Musk’s track record and data from X network for AI advancement.
Elon Musk’s artificial intelligence startup, X.AI Corp., is on the brink of finalizing its funding round at a staggering valuation of approximately $18 billion, sources familiar with the matter revealed. The closure of this funding round is anticipated to occur within the week, although the precise details, including the exact size of the round, remain subject to finalization.
Previously, Bloomberg News had reported that X.AI Corp. was poised to secure a significant portion of its funding, approximately $6 billion, with participation from renowned investors like Sequoia Capital. However, the final figures are yet to be confirmed, and alterations in valuation and timing are still plausible, according to insiders.
The funding endeavor for X.AI Corp., an emerging competitor to OpenAI, has been strategically marketed, leveraging Elon Musk’s illustrious track record at Tesla Inc. and SpaceX…
The post X.AI Corp. Eyes $6 Billion Funding Round, Backed by Sequoia Capital appeared first on Coin Edition.
