xAI Raises $10Billion As AI Race Heats Up
America invents. China helps to scale. Europe regulates. Others consume. And in the AI era, America and China will dominate, and they could enslave all nations technologically for ages. Mark Zuckerberg is paying people a Nigerian state budget as salaries, and now Elon Musk has packed tons of money for his AI company, xAI, something more than some national budgets:
"Elon Musk’s artificial intelligence startup, xAI, has closed a blockbuster $10 billion funding round, combining $5 billion in debt financing with a separate $5 billion equity investment, marking one of the largest capital raises in the AI sector to date. Led by Morgan Stanley, the twin funding rounds signal investor confidence in xAI’s ambitious roadmap to build world-class AI infrastructure, even as competition tightens among global AI powerhouses.
"The proceeds will be used to expand xAI’s data center capacity, support its flagship generative AI platform Grok, and further its push into developing artificial general intelligence (AGI) capabilities."
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Money everywhere for these bigtechs and that quantity is now quality in the playbook. Yes, part of quality component is having quantity when it comes to funding in the AI era!