Nevertheless, the deals — and xAI’s developer and consumer-facing products — have driven xAI’s revenue to around $100 million a year. For comparison, Anthropic is reportedly on pace to generate $1 billion in revenue this year, and OpenAI is targeting $4 billion by the end of 2024.

The development of Aurora, xAI’s image generation system, enters a rapidly growing market for AI-generated content, which is projected to reach $110 billion by 2030. Early demonstrations of Aurora have shown promising results in creating highly detailed and contextually accurate images.

Elon Musk's AI startup xAI has raised $6 billion from investors, including US venture capitalists, NVIDIA, AMD, and investment funds from Saudi Arabia and Qatar. This funding will be used to develop products for billions of users and advance research.

Elon Musk's xAI secures $6B in a Series C with BlackRock, a16z; focuses on AI infrastructure expansion, including Colossus upgrades.

CNBC reported xAI was eyeing a $50 billion valuation, a huge jump from its value six months ago. The Financial Times reported that only investors who had backed xAI in its previous fundraising round were permitted to participate in this one.

Elon Musk’s startup xAI said it had raised $6 billion in fresh funding from investors, as it battles stiff competition

Elon Musk's AI venture xAI raises $6 billion in Series C funding round on Monday, December 23. Blackrock, AMD, Nvidia, Fidelity were among the top investors pooling in the investment.