TLDR:
Investors close to Elon Musk are in talks to help his artificial-intelligence startup xAI raise $3 billion in a round that would value the company at $18 billion, according to the Wall Street Journal. Venture capital firm Gigafund, and Steve Jurvetson are among the potential backers considering investing in the round. The terms of the fundraising have not been finalized and plans could change.
Investors close to Elon Musk are in talks to help his artificial-intelligence startup xAI raise $3 billion in a round that would value the company at $18 billion.
Venture capital firm Gigafund, and Steve Jurvetson are among the backers considering investing in the round, according to the report.
Terms of the xAI fundraising were not finalized and the plans could change, the Journal said, adding that current fundraising talks have gathered momentum recently.
The xAI fundraising could potentially serve as an alternative to Microsoft-backed OpenAI and Alphabet’s Google, both of which are giants in the field of artificial intelligence.
xAI, founded by Elon Musk, launched an enhanced version of its chatbot Grok-1.5, named Grok-1.5, a chatbot rivaling OpenAI’s ChatGPT. The chatbot is available to use by some users of X, formerly known as Twitter.
No comments have been provided by xAI or Elon Musk’s office at this time.
Economic Times is reporting on potential investors in xAI, Elon Musk’s artificial-intelligence startup, as they discuss raising $3 billion in funding.
