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.

Elon Musk's AI startup xAI has raised $6 billion from investors, including US venture capitalists, NVIDIA, AMD, and investment funds from Saudi Arabia and Qatar. This funding will be used to develop products for billions of users and advance research.

Elon Musk’s artificial intelligence startup xAI revealed that it raised $6 billion in its latest funding round as the startup continues to ramp up in its battle against bitter rival OpenAI. Musk took a victory lap after announcing Monday on his social media platform X that the company concluded its Series C funding round — which is usually the final stage of venture capital financing.

Elon Musk‘s xAI has secured another $6 billion in funding. After landing the same amount in June, the artificial intelligence startup launched by the billionaire businessman – who is the founder of Tesla and SpaceX and CEO of X (formerly Twitter) – has received further investments in its Series C funding round.