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.

In total, 97 investors were involved in this round of funding, with the minimum investment per participant pegged at $77,593. Investors were only allowed to participate

Elon Musk's AI company, xAI, raised $6 billion, doubling its funding to $12 billion and its valuation to over $40 billion.

Elon Musk’s venture xAI has launched a standalone iOS app for its Grok AI chatbot, expanding from its earlier exclusivity to X users. Now tested in Au

Elon Musk's xAI is testing the Grok chatbot as a standalone iOS app, promising enhanced accessibility and advanced user features.

Elon Musk's xAI is testing a standalone Grok AI app for iOS, aiming to enhance AI accessibility for iPhone users.

A lot of compute is needed,” Mr. Musk said in a post about the financing, in which BlackRock, Fidelity and Sequoia participated.