Musk’s xAI Is Close to Raising $6 Billion from Sequoia, Others

Elon’s Musk xAI is close to having billions of dollars more in its coffers to make its chatbot Grok a more fearsome competitor to OpenAI’s ChatGPT.

Musk’s year-old startup is raising $6 billion at a valuation of $18 billion not including the investment, according to two people close to the deal. Sequoia Capital is one of the investors participating in the xAI round, according to one of the people, and it’s expected to close in the next two weeks, said the second. The round represents one of the largest single hauls among the startups competing to develop technology that writes, talks and creates art like humans, a category that includes OpenAI and Anthropic.