Last month, xAI launched Grok, a chatbot powered by a large language model that the company claims has real-time knowledge of the world. This comes after Musk's acquisition of X, formerly known as Twitter, for $44 billion in 2022. The startup has attracted talent from competitors, including former DeepMind senior researcher Igor Babuschkin. AI companies have seen significant funding recently, with Amazon investing $4 billion in startup Anthropic and OpenAI reportedly seeking a new valuation between $80 billion and $90 billion.
Key takeaways:
- Elon Musk's AI startup xAI is seeking to sell $1 billion in equity, after already raising over $134 million during its first four months of operation.
- xAI is looking to sell an additional $865.3 million to investors, with a minimum investment of $2 million required to take a stake in the company.
- Last month, xAI released Grok, a chatbot powered by a large language model with access to X, formerly known as Twitter, which Musk purchased for $44 billion in 2022.
- Musk founded xAI as a competitor to OpenAI and other companies backed by big tech firms, attracting talent from competitors, including former DeepMind senior researcher Igor Babuschkin.