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Elon Musk’s AI startup raises $6bn for market expansion
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By Francesca Hangeior.
Elon Musk’s artificial intelligence startup xAI has raised $6bn in a Series B funding round backed by investors including Valor Equity Partners, Andreessen Horowitz and Sequoia Capital, among others.
In a statement posted on its website on Sunday, the startup announced that the funds from this round would be used to bring xAI’s first products to market, build advanced infrastructure, and accelerate the research and development of future technologies.
“xAI will continue on this steep trajectory of progress over the coming months, with multiple exciting technology updates and products soon to be announced,” the startup said.
Musk’s company is primarily focused on the development of advanced AI systems that are truthful, competent, and maximally beneficial for all of humanity.
“There will be more to announce in the coming weeks,” billionaire businessman Musk said in a post on X in response to the announcement of the funding.
From the announcement of the company in July 2023 to the release of Grok-1 on X in November, to the recent announcements of the improved Grok-1.5 model with long context capability and Grok-1.5V with image understanding, xAI’s model capabilities have improved rapidly.
With the open-source release of Grok-1, xAI has opened doors for advancements in various applications, optimisations, and extensions of the model.
Startups in artificial intelligence have resisted the current funding downturn in tech, with investors seeing opportunities for specialist AI applications in sub-sectors such as defense.
According to Stanford’s Institute for Human-Centered Artificial Intelligence, funding for AI startups reached $25.2bn in 2023, nearly nine times the investment in 2022 and about 30 times the amount in 2019.
Investors are looking for AI startups that challenge the status quo, develop better solutions, and drive real human progress.
They prioritise factors such as market approach, team, technology, and execution planning when evaluating AI investments.
News
‘We Need Help Now’ — Nigerians Trapped in South Africa Appeal to Tinubu
As the Malawian government moves to evacuate its citizens from South Africa following renewed xenophobic attacks, Nigerians caught in the unrest have expressed frustration over what they describe as a lack of support from their home country.
Chairman of the Pentecostal Fellowship of Nigeria (PFN) in Gauteng, South Africa, Ikye Okwuakwu, has called on President Bola Ahmed Tinubu to urgently intervene and assist Nigerians affected by the crisis.
Speaking amid reports that thousands of foreign nationals have been displaced and are currently sheltering in temporary camps, Okwuakwu questioned Nigeria’s response to the situation.
“Malawi is taking its people home. What is Nigeria doing for its own citizens?” he asked.
He urged the Federal Government to take immediate steps to protect and support Nigerians stranded in South Africa, warning that many are facing uncertainty and hardship as tensions persist in affected communities.
The appeal comes as concerns continue to grow over the welfare and safety of foreign nationals impacted by the wave of xenophobic violence in parts of South Africa.
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Wait for 2027, Presidency Tells Peter Obi Amid Calls for Tinubu’s Resignation
The Presidency has strongly criticised Labour Party presidential candidate, , over his recent call for President to resign, describing the demand as “childish, hollow, and an unwarranted distraction.”
In a statement issued on Monday, Special Adviser to the President on Information and Strategy, , accused Obi of drawing a misleading comparison between Nigeria’s presidential system and the United Kingdom’s parliamentary system in advocating for Tinubu’s resignation.
Onanuga argued that President Tinubu was elected to a fixed four-year term and should be judged through the electoral process rather than calls for resignation on social media. He pointed to recent election victories recorded by the ruling party in Ekiti, Nasarawa, Enugu, Ondo and Rivers states as evidence of public support for the President and his administration.
The presidential aide also defended the administration’s handling of security, stating that the government had intensified military operations, rescued hundreds of kidnapped victims and neutralised thousands of terrorists since Tinubu assumed office in 2023.
On the economy, Onanuga maintained that key indicators showed progress under the current administration. He cited improvements in oil production, increased government revenue, growth in foreign reserves, rising investor confidence and gains in the stock market as signs that the economy was recovering from longstanding challenges.
The Presidency further highlighted infrastructure projects, including the Lagos-Calabar and Sokoto-Badagry superhighways, as well as reforms in the power sector and student loan programme, as evidence of the administration’s commitment to development.
Responding to Obi’s criticisms of electricity supply and the cost of living, Onanuga argued that the government had taken steps to expand power generation and reduce estimated billing through the rollout of prepaid meters. He also attributed current economic pressures partly to global developments, including tensions in the Middle East and their impact on commodity prices.
The statement concluded with a sharp rebuke of Obi, accusing him of misrepresenting the country’s situation and failing to acknowledge what the Presidency described as the achievements of the Tinubu administration.
According to Onanuga, President Tinubu remains focused on reforms, economic stabilisation, security improvements and long-term development, insisting that Nigeria is on a path of progress under his leadership.
News
Tinubu Appoints Former UNILAG VC Ogundipe as NUC Governing Board Chairman
President Bola Ahmed Tinubu has approved the appointment of former Vice-Chancellor of the University of Lagos (UNILAG), Oluwatoyin Temitayo Ogundipe, as Chairman of the Governing Board of the National Universities Commission (NUC).
The appointment, announced on Monday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, takes immediate effect.
Prof. Ogundipe succeeds Olufemi Raphael Aina, who resigned from the position after serving for less than a year. Aina had been appointed by President Tinubu in July 2025, while the NUC Governing Board was inaugurated in November 2025.
A renowned professor of Botany, Ogundipe served as Vice-Chancellor of the University of Lagos from 2017 to 2022. His academic career spans decades, with expertise in molecular plant taxonomy, biosystematics, ethnobotany, cytogenetics, forensic botany and ecological conservation. He also holds an MBA from UNILAG and currently serves as Pro-Chancellor of Redeemer’s University, Ede, Osun State.
According to the Presidency, the new NUC chairman is expected to provide strategic leadership for Nigeria’s university regulatory agency, with emphasis on improving funding, strengthening academic standards, enhancing global competitiveness and promoting stability across the nation’s tertiary education system.
The appointment is in line with the Tinubu administration’s Renewed Hope agenda, which seeks to expand access to quality higher education while reinforcing integrity and excellence within Nigeria’s university system.
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