Elon Musk’s xAI raises $6 billion in new funding

The artificial intelligence company founded by Elon Musk, xAI, said on Monday that it had raised $6 billion, giving the startup a major lift as it competes with rivals, including OpenAI.

The company said on its website that it would use the money to continue building its infrastructure and accelerate research and development. BlackRock, Fidelity, Sequoia Capital and others participated in the funding round.