This round was led by Sequoia Capital and Index Ventures, with additional participation from Altman among others
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The investment targets quantum computing ventures that could potentially accelerate the drug discovery processes, a time-consuming and resource-intensive phase in pharmaceutical production
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The investment was led by notable figures such as Daniel Gross, with significant contributions from Jeff Bezos, NVIDIA, and other prominent investors, including Stanley Druckenmiller, Tobi Lutke, and Garry Tan
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The funding, contributed by two unnamed investors on 19 April, marks the fund's continued efforts to drive investment into early-stage AI-related companies across a range of industries
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Originally, xAI aimed to raise USD 3 billion at a USD 15 billion valuation, but due to overwhelming demand from potential investors, these numbers were quickly revised upwards
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The sector has raised a total funding of USD 7.3 billion to date and funding saw substantial growth between 2018 and 2022, surging from USD 0.23 billion to USD 2.47 billion
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