Elon Musk’s AI startup raises $6 billion in equity funding

Elon Musk’s artificial intelligence startup xAI has raised about $6 billion in equity funding, the company said.

The funding comes as xAI seeks to raise billions of dollars to provide users with an alternative to OpenAI’s ChatGPT platform, Reuters reported.

Last month, CNBC reported that the company had raised $6 billion, and that it was expected to be worth more than $50 billion after raising the funding.

The network reported at the time that the money would be used to buy 100,000 Nvidia chips for use in the manufacture of self-driving cars