Elon Musk’s artificial intelligence company xAI is reportedly aiming to raise seven figures in the company’s first known funding round.
In a filing with the Securities and Exchange Commission on Tuesday, X.AI Corp. (dba xAI) said it aims to raise $1 billion in an initial public offering and has already raised more than $134 million. is being sold. The company said it had “entered into binding and enforceable agreements to purchase and sell” the remaining sale total of $865 million.
Citing sources: new york post xAI is “raising funding at a valuation likely between $4 billion and $10 billion,” it reported, adding that the disclosure is the first known funding round for Musk’s startup.
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The filing comes a month after Musk announced that xAI’s Grok chatbot, which aims to rival OpenAI’s ChatGPT and Google’s Bard, has entered beta testing.
Co-founder Mr. Musk ChatGPT Manufacturer OpenAI In 2015, he resigned from the board and launched xAI to compete with big tech giants like ChatGPT and Google in the AI space. He has criticized Big Tech companies’ AI efforts for what he calls censorship, and said he would launch the ultimate truth-seeking AI to try to understand the nature of the universe.
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Since launching xAI in July, he has staffed the company with talent from Google’s DeepMind division, Microsoft and other top AI research companies.
|Alphabet Co., Ltd.
Musk is the CEO of Tesla and the owner of the X social media platform.
|Tiziana Life Sciences
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xAI is different from X social media platform, but the two companies work closely together, and so does xAI Cooperation with Tesla.
FOX Business’ Eric Revell contributed to this report.