Can Elon Musk’s xAI take on OpenAI?

Every day AIAI AIAIVCAIAIGPTAIseems to bring fresh bets on artificial intelligence (). In the past few weeks CoreWeave, an cloud-computing company, and H, a French startup, have raised hefty sums of money. On May 26th it was Elon Musk’s turn. The tech billionaire’s startup, christened x, said it had raised $6bn at a valuation of $24bn. The investors include such Silicon Valley stalwarts as Sequoia Capital and Andreessen Horowitz, two venture-capital () giants, and an investment fund with ties to the Saudi royal family. Their lavish backing puts x’s financial firepower in the big leagues, alongside model-builders such as , the creator of Chat, and Anthropic (see chart). Can Mr Musk compete with the superstars?