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Elon Musk denied on Wednesday that his secretive synthetic intelligence startup, xAI, is elevating cash
In response to a tweet from a enterprise capitalist, Musk said xAI, which not too long ago launched its generative AI chatbot, Grok, isn’t elevating cash “proper now.”
On Tuesday, xAI stated it was seeking to increase as much as $1B in an fairness providing and had already raised $134.7M in financing, based on a submitting with the Securities and Trade Fee. The submitting listed the minimal funding accepted by any outdoors investor as $2M.
In July, Musk, who already heads up Tesla (NASDAQ:TSLA), SpaceX (SPACE), owns X (previously generally known as Twitter), and has involvement in The Boring Firm and Neuralink, unveiled xAI.
Grok competes with ChatGPT, which is owned and operated by OpenAI. Microsoft (MSFT), by way of a “multi-billion” greenback funding into OpenAI earlier this yr, reportedly owns 49% of the corporate.
The purpose of the Musk-led xAI is to know “the character of the universe” and to assist humanity “perceive actuality.”