Musk’s AI startup seeks to raise $1b
Elon Musk is seeking to raise a billion dollars for his xAI artificial intelligence company that he hopes will compete with ChatGPT’s Open AI.
An official filing to the US Securities and Exchange Commission on Tuesday said the company that Musk created earlier this year had already gathered $134.7 million and plans to raise $1 billion overall.
The filing added that there was a firm agreement to raise the full funds needed to meet the target, indicating that Musk may have deals in place for the full billion.
Musk last month offered a preview of his company’s ChatGPT-like chatbot, called “Grok,” which he said was trained on data from X, formerly Twitter, that Musk bought for $44 billion a year ago.
The wealthy entrepreneur and founder of electric carmaker Tesla started xAI i...