Elon Musk's artificial intelligence venture, xAI, is reportedly on the verge of securing a substantial investment of at least $6 billion, valuing the company at around $18 billion.
The 10-month-old company by the tech billionaire, which has unveiled an AI chatbot called ‘Grok’, is expected to close the deal in the next few weeks, reports TechCrunch, citing sources.
Prominent investors participating in this funding round include Sequoia Capital and Future Ventures, the latter co-founded by Musk's long-time associate Steve Jurvetson. Additionally, Valor Equity Partners and Gigafund VC firms are also anticipated to join the investment initiative.
While neither Musk nor representatives from xAI immediately responded to requests for comment, reports indicate that the company is actively recruiting talent across various disciplines, including engineering, design, product development, data analytics, and infrastructure management.
Employees at xAI are promised an attractive package, including competitive cash compensation, equity-based incentives, and comprehensive healthcare coverage, along with unlimited paid time off.
Established in 2023, xAI made its debut in the artificial intelligence landscape last November with the introduction of its flagship AI chatbot, 'Grok.'
Musk has expressed confidence in the capabilities of 'Grok 2,' currently undergoing training, asserting that it will surpass all expectations upon its release.
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