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Author: Admin | 2025-04-28
Editor’s Note: Eric Fry, here. Before I hand things over to Luke Lango for today’s Smart Money special issue, I want to once again thank those of you who joined Thursday’s Road to AGI Summit. You can click here to watch a replay.As we discussed at the summit, AI is progressing at an exponential rate. Now, we’re watching Elon Musk’s xAI company redefine technology. These rapid advancements bring us closer to the arrival of Artificial General Intelligence (AGI) – which has the power to revolutionize every aspect of our lives.Today, Luke will share updates on Musk’s AI startup, xAI, and the investment opportunities that surround it.Take it away, Luke…Hello, Reader.For years, one of the world’s richest men and arguably most influential tech visionary – Elon Musk – has mostly watched the AI Boom unfold from the sidelines. But that all changes now.Musk was set to secure up to $6 billion in funding for his new AI startup, xAI. And he’s done it.From xAI’s official blog:Our Series B funding round of $6 billion with participation from key investors including Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, amongst others.Now, aside from launching its AI chatbot Grok – which many experts say matches up pound-for-pound with ChatGPT – things have been mostly quiet since xAI’s founding. But this $6 billion funding round could change that in a dramatic way.Of course, the thing about world-changing businesses is that they start with world-changing people. Those folks have revolutionary ideas. And when funded with billions of dollars, they turn those ideas into world-changing businesses. After all, Apple (AAPL) only became what it is today thanks to Steve Jobs, who came up with the idea of the iPhone. Jobs then leveraged the enormous
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