Elon Musk has stated a report that his synthetic intelligence (AI) firm, xAI, has secured $500 million in commitments from buyers towards a $1 billion aim is inaccurate.
“That is merely not correct,” he stated in a reply to a consumer put up in regards to the Bloomberg article on social media platform X.
The unreal intelligence (AI) startup xAI is discussing a valuation of $15 billion to $20 billion, although phrases might nonetheless change within the coming weeks, Bloomberg reported, citing individuals accustomed to the matter.
xAI couldn’t instantly be reached for remark.
Musk and buyers are anticipated to finalize phrases within the subsequent couple of weeks, and a few events are evaluating whether or not they can get computing energy along with, or in some circumstances as an alternative of, xAI fairness shares, Bloomberg reported.
Final December, Musk stated his synthetic intelligence firm was not elevating funds, a day after the startup filed with the US securities regulator to boost as much as $1 billion in an fairness providing.
Musk launched xAI in July final yr in response to Huge Tech’s AI efforts, which he has criticized for extreme censorship and an absence of ample security measures.
“That is merely not correct,” he stated in a reply to a consumer put up in regards to the Bloomberg article on social media platform X.
The unreal intelligence (AI) startup xAI is discussing a valuation of $15 billion to $20 billion, although phrases might nonetheless change within the coming weeks, Bloomberg reported, citing individuals accustomed to the matter.
xAI couldn’t instantly be reached for remark.
Musk and buyers are anticipated to finalize phrases within the subsequent couple of weeks, and a few events are evaluating whether or not they can get computing energy along with, or in some circumstances as an alternative of, xAI fairness shares, Bloomberg reported.
Final December, Musk stated his synthetic intelligence firm was not elevating funds, a day after the startup filed with the US securities regulator to boost as much as $1 billion in an fairness providing.
Musk launched xAI in July final yr in response to Huge Tech’s AI efforts, which he has criticized for extreme censorship and an absence of ample security measures.
