Elon Musk's AI company, xAI, raised another $6 billion in funding, TechCrunch reported via the U.S. Securities and Exchange Commission. The filing reports that each investor, of nearly 100, had to give a minimum of $77,

Meet the key figures at Elon Musk's xAI, the $50 billion startup behind the chatbot Grok that's taking on ChatGPT.

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.

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.

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 artificial intelligence venture xAI has attracted funding from regional investors including Saudi Arabia’s Kingdom Holding, the Qatar Investment Authority and the Oman Investment Authority.