Elon Musk's artificial intelligence company xAI has raised about $6 billion in new funding through a stock issue.
The funding comes as the startup seeks to raise billions of dollars to provide users with an alternative to OpenAI's ChatGPT platform, according to Reuters.
Musk's company raised about $6 billion more last month, according to CNBC, bringing the company's value to more than $50 billion after raising about $50 billion in funding.
The Greater Memphis Chamber of Commerce and Industry said yesterday that xAI plans to expand its supercomputer called Colossus supercomputer in Memphis, Tennessee, to accommodate at least 1 million graphics processing units (GPUs), Reuters added.