Elon Musk reportedly on the verge of raising billions for xAI, his AI company
by Mashable
Mashable— Elon Musk's AI company xAI will raise billions from tech VCs.
Breitbart—xAI, Elon Musk's AI Venture, Raises $6 Billion to Take on OpenAI. xAI, Elon Musk's artificial intelligence startup aiming to rival ChatGPT developer OpenAI, is set to close a massive $6 billion funding round that values the 10-month-old company at a staggering $18 billion.
Yahoo Finance—Elon Musk's xAI Valued At $18 Billion In Latest Funding Round As Musk Looks To Take On $80 Billion OpenAI, A Company He Co-Founded. Elon Musk is reportedly raising $6 billion at a $18 billion valuation for his latest venture, xAI.Corp. Initially, xAI was set to raise $3 billion with a premoney valuation of $15 billion. However, because of overwhelming interest from investors, the terms of the deal were renegotiated, resulting in a significant increase in valuation. "We all received an email that basically said, ‘It's now $6B on $18B, and don't complain because a lot of other people want in," an anonymous source told...
TechCrunch—TechCrunch Minute: Elon Musk’s big plans for xAI include raising $6 billion. TechCrunch recently broke the news that Elon Musk’s xAI is raising $6 billion at a pre-money valuation of $18 billion. The deal hasn’t closed yet, so the numbers could change. But it sounds like Musk is making an ambitious pitch to investors about his 10-month-old startup — a rival to OpenAI, which he also co-founded […] © 2024 TechCrunch. All rights reserved. For personal use only.