Elon Musk's xAI Valued at $24B After Raising $6B to Compete with OpenAI

Elon Musk's AI startup xAI has raised $6 billion in its latest funding round, bringing its valuation to $24 billion and positioning it as a significant competitor to OpenAI, which is valued at over $80 billion. Founded less than a year ago, xAI aims to develop advanced AI technologies and has released an AI chatbot called Grok. Despite Musk's lofty ambitions and substantial investment, xAI's initial offerings have yet to make a major impact. The rivalry between Musk and OpenAI, which he co-founded and later left, adds a personal dimension to the competition.