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.

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 xAI secures $6B in a Series C with BlackRock, a16z; focuses on AI infrastructure expansion, including Colossus upgrades.

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,

AI has successfully closed its Series C funding round, raising $6 billion with participation from investors such as A16Z, BlackRock, Morgan Stanley, Fidelity Management & Research Company, Lightspeed,

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.