PANews reported on May 9 that according to Bloomberg, Elon Musk's artificial intelligence startup xAI will complete this round of financing as soon as this week, with a valuation of about $18 billion, and Sequoia is one of the potential investors.

Bloomberg also reported last week that xAI will raise $6 billion (currently about 43.38 billion yuan in RMB coins) in a new round of funding, which was initially expected to be $3 billion, but the valuation has pumped all the way due to the subsequent large number of participants. Sources previously told Bloomberg that Musk's cronies at Sequoia Capital and Future Ventures, as well as other undisclosed investors, joined the funding war.
The new round of financing will help xAI obtain more long AI Computing Power resources to compete with openAI, Anthropic rivals: Musk recently said that xAI's next-generation Grok model is being trained on 20,000 NVIDIA H100s, and the demand for AI GPUs in the future Grok 3 will rise to 100,000.