Elon Musk's xAI seeking to raise $6 billion in Andreessen Horowitz-backed funding: Report
The Hindu
Elon Musk’s xAI is seeking to raise close to $6 billion in a funding round, the Financial Times reported.
Elon Musk's artificial intelligence startup, xAI, is seeking to raise close to $6 billion in a funding round backed by Silicon Valley heavyweights including Andreessen Horowitz, the Financial Times reported on Thursday.
The round also includes commitments from Sequoia Capital and Tribe Capital, the report said, citing people familiar with the negotiations. It would value the startup at $18 billion, according to a source familiar with the matter.
The AI race has been heating up, with several investors signing big checks for start-ups looking to compete with market leaders like OpenAI.
AI startups raised $19.15 billion in venture capital funding in the first quarter, compared with $16.36 billion in the year-ago period, according to data from PitchBook.
(For top technology news of the day, subscribe to our tech newsletter Today’s Cache)
Representatives for Musk and the investment firms did not immediately respond to Reuters requests for comment.
Musk had denied a report earlier this year that said xAI was seeking funding.
“Kaavi Kale is a method-based art without rigid forms, allowing for diverse artistic influences,” said Janardhan Rao Havanje, an artist and researcher in Kaavi Kale on Friday.
The National Institute of Mental Health and Neurosciences (NIMHANS), which is an instrumentality of the State, has to conduct itself as a model employer and has to be considerate while treating the claims of women employees for maternity and child care leave (CCL), said the High Court of Karnataka.
Telangana BJP president praises Maharashtra voters for rejecting Congress' divisive tactics, hails BJP's growing support and governance model.
Tender floated for Pachamalai Tourism Development Project to enhance infrastructure and promote sustainable tourism in the region.
Jharkhand MLAs' family members face defeat in elections as high-profile women lose, including wives of ex-CMs and daughters-in-law.
Nirangal Moondru movie review: Atharvaa, Sarathkumar and Rahman headline Nirangal Moondru, an imperfect yet intriguing tale on parenthood, lost causes and redemption
Communist Party of India (Marxist) leaders oppose Union government's decision to construct nuclear power plant in Srikakulam district.
Tiruchi Corporation invites tenders for 11-km link road construction connecting Panjapur to Kudamuriti river, costing ₹340 crore.
Chief Minister Revanth Reddy to counter opposition's farm loan waiver criticism at Farmers Conference in Mahabubnagar on November 30.
UDF cadre celebrate Palakkad win with trolley bags, highlighting political drama in byelections.
India tour of Australia: Border-Gavaskar Trophy first Test in Perth: Debutant Harshit Rana press conference on his performance and about his dream debut in Australia