Sequoia Capital, Silicon Valley’s best-known venture capital firm, has committed to invest in Elon Musk’s artificial intelligence start-up xAI, boosting the Tesla chief’s efforts to raise billions and take on OpenAI, Meta and Google.
Musk has spent months attempting to raise as much as $6bn from investors globally for xAI, which he launched in 2023 with a mission “to understand the true nature of the universe”.
The serial entrepreneur has approached investors who bankrolled his 2022 takeover of social media platform Twitter, which he renamed X, inviting them to invest in xAI ahead of others in a funding round that could value the company at $18bn or more, according to multiple people with knowledge of the matter.
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