The AI industry has seen increased interest from investors, with start-ups receiving significant funding. Musk's xAI launched a chatbot, "Grok", last year, rivaling OpenAI's ChatGPT. Despite this, Musk has expressed concerns about developing AI and robotics outside of Tesla unless he has more voting control. Other AI companies, such as Anthropic and Microsoft-backed Inflection AI, have also recently raised funds.
Key takeaways:
- Elon Musk's artificial intelligence firm, xAI, is not in talks with investors to secure funding, despite media reports suggesting the startup was looking to raise up to USD 6 billion.
- The Financial Times had reported that xAI was in talks to raise funding at a valuation of USD 20 billion, with potential investors including family offices in Hong Kong and sovereign wealth funds in the Middle East.
- Musk has previously denied reports that xAI had secured USD 500 million in commitments from investors toward a USD 1 billion funding goal.
- Musk has been vocal about his plans to build safer AI and has expressed discomfort about developing AI and robotics outside Tesla unless he has more voting control at the electric-vehicle maker.