Despite Musk's denial of seeking funding, the pitch deck also highlighted the success of OpenAI, xAI's competitor and Musk's former company, as an attraction for investors. Musk, who is also the CEO of Tesla and SpaceX, launched xAI in July with the goal of "understanding reality" and released its first AI chatbot, Grok, in November.
Key takeaways:
- Elon Musk's AI startup, xAI, is encouraging investors to invest in the company, citing Musk's successful track record as an entrepreneur and access to his network of companies, referred to as the "Muskonomy."
- The company's pitch deck, seen by Bloomberg, was circulated to investors in December and January, and highlighted Tesla and the social media platform X (formerly Twitter) as its strategic partners.
- Despite being a competitor, xAI used the success of OpenAI as a selling point to potential investors, with Musk having previously served on OpenAI's board before resigning in 2018.
- Despite these pitches to investors, Musk has denied reports that xAI is seeking funding, and representatives for Musk did not immediately respond to a request for comment.