Elon Musk’s artificial intelligence company, xAI, reportedly reached a valuation of $50 billion just 16 months after its founding in July 2023. It is now worth more than what the billionaire paid for Twitter. Arguably the most well-known name in the AI space, OpenAI, last valued at $157 billion, needed over nine years to achieve the same milestone.
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According to Business Insider, xAI is gaining traction in the competitive AI sector and is now valued higher than other AI startups, such as Anthropic (valued at $19 billion) and Perplexity (at $2.8 billion).
xAI’s journey has been marked by significant milestones, including raising $5 billion in its latest funding round to purchase 100,000 Nvidia chips. These chips will power the Memphis supercomputer, a facility designed to enhance the company’s AI capabilities and support Tesla’s Full Self-Driving (FSD) technology. According to WSJ and other outlets, the funding included $5 billion from Valor Equity Partners, Sequoia Capital, Andreessen Horowitz and Qatar Investment Authority.
The Memphis supercomputer, awaiting final approval, is a key part of xAI’s strategy . It was built in less time than is customary for projects of this kind and is situated on a former manufacturing site. In a recent podcast, Nvidia CEO Jensen Huang mentioned that xAI finished building the supercluster in 19 days, although the procedure usually takes more than a year.
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“Just to put in perspective, 100,000 GPUs are easily the fastest supercomputer on the planet as one cluster. A supercomputer that you would build would normally take three years to plan,” Huang said, stressing the role of xAI’s […]
In Just 16 Months, Elon Musk Achieved With xAI What Took OpenAI Nearly Nine Years To Accomplish
