Elon Musk's xAI raises around $6 billion in equity financing

Elon Musk's artificial intelligence startup xAI said on Thursday it has raised around $6 billion in equity financing.

The funding comes as the startup seeks to raise billions of dollars to provide users with an alternative to OpenAI's ChatGPT.

CNBC reported last month that xAI was raising $6 billion with a post-raise valuation seen at more than $50 billion.