We highlight notable generative AI deals, partnerships, and big tech activity in November 2024.
The content below was curated by our experts using CBI Instant Insights, a one-click AI analysis and summarization tool. Click on company profiles for more details and sourcing information.
NOTABLE DEALS
xAI | $5B Series C at a $50B valuation
- Elon Musk’s xAI more than doubled its valuation from $24B in the spring with its most recent funding round.
- The raised funds are earmarked for the purchase of 100K additional Nvidia chips, enhancing their AI model training capabilities.
- Round investors: Andreessen Horowitz, Qatar Investment Authority, and 2 more
Databricks | $5B Series J at a $55B valuation
- The $5B funding round is structured as a secondary share sale to allow employees to sell shares, reducing immediate IPO pressure.
- Funding enhances Databricks’ expansion in big data and AI, with a reported annualized revenue of $2.4B for mid-2024.
- Round investors: Andreessen Horowitz, Baillie Gifford, and 6 more
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