Musk’s AI startup behind Grok will get an $18 billion valuation. Will it surpass OpenAI?

Musk's AI startup behind Grok will get an $18 billion valuation.  Will it surpass OpenAI?

According to a Thursday report According to Bloomberg, Elon Musk’s artificial intelligence (AI) company xAI is on the verge of reaching an $18 billion valuation after its latest funding round.

According to a Thursday report According to Bloomberg, Elon Musk’s artificial intelligence (AI) company xAI is on the verge of reaching an $18 billion valuation after its latest funding round.

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In late April, the business outlet reported that the AI ​​startup was close to a deal to secure $6 billion in funding from big-name players such as Menlo Park-based venture capital firm Sequoia Capital.

Musk launched the xAI company in July 2023 to compete with companies like OpenAI, which managed to gain a lot of prominence thanks to its viral chatbot ChatGPT.

The startup launched its own generative AI chatbot called Grok in December for paid subscribers on social network X (formerly Twitter).

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In March, xAI announced the release of Grok-1.5, an improved version of Musk’s AI chatbot. The upgraded version is supposed to be better at coding and math tasks.

Even with the latest funding, it will be a big challenge for OpenAI to surpass OpenAI. The latter is now valued at a whopping $80 billion following a recent deal.

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Elon Musk reveals what’s next for Grok AI

Other AI startups are also receiving significant funding. For example, search startup Perplexity is now valued at $1 billion after raising a $63 million funding round led by investor Daniel Gross. Earlier this week, artificial intelligence startup Atlan reached a valuation of $750 million after raising $105 million. Meanwhile, British autonomous driving startup Wayve has raised $1 billion in funding from companies like Japan’s Softbank. Mistral and Aleph Alpha are also among the startups that recently raised massive funding rounds.

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