The funding round is being promoted with a pitch deck that highlights the potential of xAI to train on high-quality data from Musk's social network X, formerly known as Twitter. Access to such data is crucial for building large language models, a technology that powers AI chatbots. This is an area where xAI aims to compete with other well-funded businesses like OpenAI.
Key takeaways:
- Elon Musk's AI startup X.AI Corp. is expected to close its funding round at a valuation of around $18 billion.
- The company, which makes AI chatbot assistant Grok, was set to raise $6 billion in the round with participants including Sequoia Capital.
- The funding round for the OpenAI rival was marketed highlighting Musk's track record at Tesla and SpaceX, and the potential for xAI to train on high-quality data from X.
- Access to data is crucial for building large language models, the technology that powers AI chatbots, an area where xAI aims to compete with other well-funded businesses such as OpenAI.