Musk's xAI secures backing from Sequoia Capital, a longtime collaborator known for investments in his ventures like The Boring Company and SpaceX, aiming to raise up to $6 billion.
In a competitive AI market with players like OpenAI and tech giants Meta and Google, xAI has been acquiring resources and talent to advance its chatbot Grok and compete.
Musk's prior involvement with OpenAI faced disputes, leading to his departure in 2018 and subsequent legal actions, showcasing complexities in the AI industry dynamics.
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