Nevertheless, the deals — and xAI’s developer and consumer-facing products — have driven xAI’s revenue to around $100 million a year. For comparison, Anthropic is reportedly on pace to generate $1 billion in revenue this year, and OpenAI is targeting $4 billion by the end of 2024.

The development of Aurora, xAI’s image generation system, enters a rapidly growing market for AI-generated content, which is projected to reach $110 billion by 2030. Early demonstrations of Aurora have shown promising results in creating highly detailed and contextually accurate images.

Premium X feature, Grok, which was created by Elon Musk in 2023, is able to take any image or meme and give it a detailed description.

Elon Musk’s artificial intelligence startup xAI revealed that it raised $6 billion in its latest funding round as the startup continues to ramp up in its battle against bitter rival OpenAI. Musk took a victory lap after announcing Monday on his social media platform X that the company concluded its Series C funding round — which is usually the final stage of venture capital financing.

Elon Musk’s AI company, xAI, has secured another $6 billion in funding, bringing its total raised to $12 billion in just half a year. The latest investment round, confirmed in a U.S. Securities and Exchange Commission filing,