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.

A lot of compute is needed,” Mr. Musk said in a post about the financing, in which BlackRock, Fidelity and Sequoia participated.

Elon Musk's xAI has secured a totak of $6 billion in Series C funding, bringing its total funding to $12 billion.