Billionaire Elon Musk’s artificial intelligence company, XAI, announced on Monday that it had concluded a new IPO worth $6 billion, in order to “accelerate its development.”
The company, which creates products based on generative artificial intelligence and seeks to be a direct competitor to “OpenAI”, the creator of the “GPT Chat” program, indicated that this amount will be used specifically to enhance the company’s “advanced infrastructure.”
In a post on the X platform, the president of “Tesla” and “SpaceX” said that large computational power is necessary.
The company wants to increase the capacity of its supercomputer dedicated to artificial intelligence, “Colossus,” by doubling the number of graphics chips manufactured by Nvidia, the leading company in the sector, from 100,000 to 200,000 chips, in order to train its artificial intelligence models such as “Grok.” .
XAI was launched in July 2023, and raised $6 billion last May, while its value is currently about $50 billion, according to the American channel CNBC.
In October, OpenAI completed an IPO worth $6.6 billion. The company’s value is estimated at 157 billion.
