xAI is now targeting a $50 billion valuation, double what it was six months ago.
Founded last year, the company released its Grok artificial intelligence model integrated into Musk’s X (formerly Twitter). Grok offers features like chatbot and image generation without many of the usual limitations of other AI models.
The company is growing rapidly to compete with leaders such as OpenAI and Anthropic. In addition to providing services for Musk’s other businesses, including SpaceX and Tesla, xAI is expanding its infrastructure. Its Memphis data center is growing.
Currently, xAI’s revenue is around $100 million per year.
