Musk responded that his artificial intelligence company xAI has received a US$500 million investment commitment: This is fake news from Bloomberg.
Musk’s xAI
As per the Bloomberg report, citing people familiar with the matter that Musk’s xAI has received an investment commitment of US$500 million and aims to reach US$1 billion.
People familiar with the matter also said xAI is discussing a valuation of $15 billion to $20 billion, and terms could still change in the coming weeks.
In early December last year, xAI submitted documents to the U.S. securities regulator and planned to raise up to US$1 billion in equity financing. According to documents dated December 5, local time, the company has raised US$134.7 million through equity financing, bringing the total financing amount to US$1 billion.
Musk has been vocal about his plans to build safer artificial intelligence. He said at a Twitter Spaces event earlier this year that xAI would not directly program ethics into AI, but would instead seek to create an “extremely curious” AI.
xAI’s artificial intelligence product is called Grok. Musk believes that compared to OpenAI’s ChatGPT, Google’s Bard and Microsoft’s Bing Chat, the biggest difference between Grok is its sense of humour.
