xAI announced that it has completed its Series C financingObtained US$60 billion in investment, and announced the deployment of its most powerful Grok 3 artificial intelligence model to date.
Investors participating in this financing include A16Z, Blackrock, Fidelity Investments, Kingdom Holdings, Lightspeed, MGX, Morgan Stanley, OIA, Sequoia Capital, Valor Equity Partners and Vy Capital, while NVIDIA and AMD also participated in the investment.
According to xAI, the investment will be used to accelerate the deployment of advanced infrastructure and plans to launch breakthrough products that can be used by billions of people around the world, while also accelerating the development of future technologies.
xAI has already raised over $120 billion in funding, with a target market valuation of $500 billion. It has also previously launched a large-scale artificial intelligence model codenamed "Colossus."Grok 2, and a dedicated image generation systemAurora", and also began to use the Grok artificial intelligence model in the "X" service platform.
In addition, xAI also announced that it is working on training its most powerful Grok 3 artificial intelligence model to date, but did not disclose the specific launch schedule.
