This is a linkpost for https://x.ai/blog/series-b
xAI recently announced a $6 billion funding round.
According to The Crunchbase Megadeals Board, this would be the third largest startup funding round in history. The largest private funding round was for for OpenAI for $10B (perhaps structured mostly as compute spend) and another for Stripe for $6.5B, both in 2023.
Very curious what the actual play is here. I suspect, at worst, xAI just gets to be a holding company for GPUs and can flip them at a profit. At best, maybe Elon thinks generative Twitter will restore its original value for a sale? Regardless, his ability to fundraise for mid ideas is remarkable.