Elon Musk’s artificial intelligence venture xAI has secured $500 million in new funding, Bloomberg reported on Friday, amid an apparent showdown over the technology’s place at his electric car company.

In December, Musk’s AI startup notified the U.S. Securities and Exchange Commission of its intent to raise $1 billion in funding through an equity offering. Documents showed that Musk had already secured over $134 million at the time.

The Bloomberg source said that xAI is eyeing a $15 to $20 billion valuation, but the terms could change over time. Musk has not yet commented on the raise.

Since the launch of OpenAI’s GPT-4 last year, Musk has been in a race with the company he co-founded to bring the next generation of generative AI to market. Before Grok’s launch in November, Musk touted his AI model, first announced in July, as the best currently, with xAI claiming Grok will have “real-time knowledge of the world” thanks to bei

Go to Source to See Full Article
Author: Jason Nelson

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details