Monday, May 27th 2024
The Race is Heating Up, Elon Musk's AI Startup xAI Raises $6 Billion
Elon Musk's AI company xAI just scored big (according to Reuters), raising a massive $6 billion in new funding. This sky-high investment values xAI at a whopping $24 billion as investors go all-in on challengers to top AI players like OpenAI. Big-name funders like Andreessen Horowitz and Sequoia backed the funding round, according to xAI's blog post on Sunday. Before this, xAI was valued at $18 billion, Musk said on social app X.
The huge cash influx will help xAI launch its first products, build advanced tech, and turbocharge their research, the company stated. "More news coming soon," Musk teased cryptically after the funding announcement. It's an AI investment frenzy as tech giants like Microsoft and Google parent Alphabet pour fortunes into leading the red-hot generative AI race. With its new war chest, xAI is gearing up to make some serious waves.
Source:
Reuters
The huge cash influx will help xAI launch its first products, build advanced tech, and turbocharge their research, the company stated. "More news coming soon," Musk teased cryptically after the funding announcement. It's an AI investment frenzy as tech giants like Microsoft and Google parent Alphabet pour fortunes into leading the red-hot generative AI race. With its new war chest, xAI is gearing up to make some serious waves.
20 Comments on The Race is Heating Up, Elon Musk's AI Startup xAI Raises $6 Billion
www.theverge.com/24158374/google-ceo-sundar-pichai-ai-search-gemini-future-of-the-internet-web-openai-decoder-interview
uk.news.yahoo.com/ceo-google-says-no-solution-120008616.html
$6B? cooked books by wallstreet like they did before increasing the market cap?
Though none of those, previous, bubbles would have been the end of the world as we know it - ask your neighborhood hobbyist artist or professional translator for that - and might well just be the end of the world, for all that many people more knowledgeable than me would foresee.
Musk in AI is probably not gonna help with the latter.
As worthless as many of us consider AI to be, it's probably the biggest thing to ever happen to Big Data as a whole.
Also your examples don't add up. Tulips and dot-comm were driven by average people. You know, morons. The railroad on the other hand was driven by industry and governments. You know, not moronic consumers (consumers are the biggest idiots out there). Which is why the railroads actually did what they claimed to do and changed humanity forever. Because it wasn't driven by idiot consumers. AI is driven by governments and industry and they are not idiots.
I get the feeling the hostility to AI is it requires GPUs that consumers can't afford but that's life. The future PC gaming is renting it as a service from the cloud anyways. There's no way around that either.
Things change news at 11 with dog bites man.
the same is happening here with the ai bubble. Businesses are run by people and it doesn’t make any difference if they are consuming or selling they want to believe their own and others bullshit If it sounds good.
this doesn’t mean ai is worthless this just means that just like the internet it will grow over the years to become ever more important but just like the dot com bubble investors are expecting to much to soon.
and that’s going to bite them in the ass As it’s going to go POP.
nvidia already stooped so low to saying it’s lowering prices for their crippled hardware in China because of competition from huawei…
nvidias backlog is shrinking and it’s very likely quite some of that hardware is now mining some form of crypto just not to sit idle in data centers of companies that over ordered
and then we have intel and amd who missed the bus and are now pushing tiny npus on consumer grade hardware just so that someone would adopt their trash as to enable them to get some of nvidias ai pie
if you are a researcher/ developer great you have a bright future there, if you are an investor diversify your portfolio away from tech
It's true that it is a revolution - No previous revolution had a significantly greater-than-zero chance of being the end of humanity, though.
I do admit that tulips aren't quite comparable here, but plenty of "average people" bought railway stocks for fraction of their values - not unlike borrowing money to invest - and went broke when the companies called in the balance, when the bubble collapsed. It did also disrupt the livelihoods of postillions and canalmen, but did not result in the end of human civilization, despite early fears of agricultural collapse from all that smog and racket.
As to the dot-com bubble, this whole thing is arguably blown out of the bits of the suds left by it.Still, the guy had a more...colourful track record than a hundred Sam Altman, if not more than the rest of the major players added up together.
Still waiting to hear which big-name game would have it first to be a streaming exclusive.
Back to topic, it is true that AI services that truly mattered will almost certainly be cloud-based, since it's becoming apparent that, unlike early-mid 00's TOP10 supercomputer capability in a current desktop workstation, that kind of hardware capability would never scale it into consumer hardware in the foreseeable future, and models of truly powerful and dangerous capability would be too risky to be released for local use.
There's so much wrong here
The logo says Xi... and the AI model is fed by Twitter/X feeds, so what it spits out will likely align with China/Russia propaganda quite nicely too.
And damn is the man losing weight fast and that skin color ain't improving either. Ketamine sure does work wonders, doesn't it, or is he on Ozempic too... I guess he's trying to become an equal match in weight class so he can step in the ring with Mark Zuckerberg soon.
I really do wonder where this might end. Fun to watch. Its like the personification of everything that's wrong with hypercapitalism and what it does to people.Ah, the death of PC gaming, there it is again :D
Its like whack-a-mole isn't it. Meanwhile:
explodingtopics.com/blog/pc-gaming-stats#games-as-service
Everything go up. BUT:
The prediction is that we've already plateau'd, and lo and behold, surprise surprise, GAMING can absorb yet another way to play games and still exist as it always has. The key to this market is diversification. In content, in ways to play, in having all the options on offer. That's the PC's strength, always has been, and this will never change. Force the cloud on people, and you will see an opposite effect just as well.
We just want our cake, eat it, save it, and then eat it again, while ending the day owning cake ;) We're ready to re-purchase the same game several times if they remaster it or re-release it on the PC after being a console exclusive. We're ready to own multiple consoles AND a PC to game the games we want to game. Heck, why not try a few cloud services now that they're cheap as well? Cheap games! Oh hey, EGS got added to the landscape, free games!
NONE of this points to a market in decline or undergoing radical change. It points to a pie that keeps growing. Online revenue has doubled several times over, but we're still playing offline content too.
And yes, its just online, because the hardware keeps getting bought despite price increases
Everything cloud ain't happening.