Watch: Elon Musk’s big plans for xAI include raising $6 billion
Apr 29, 2024 - techcrunch.com
Elon Musk's startup, xAI, is reportedly raising $6 billion at a pre-money valuation of $18 billion, according to TechCrunch. The startup, which is a rival to OpenAI (also co-founded by Musk), could potentially benefit from access to crucial training data from Musk's other companies, such as Tesla and SpaceX. This could further aid Tesla in achieving its goal of self-driving cars and the integration of its humanoid Optimus robot into factories.
However, the deal is not yet closed and the figures may change. Despite the skepticism around Musk's numerous ventures, the new funding could position xAI as a formidable competitor in the AI industry. The startup is currently in a legal battle with OpenAI, accusing it of abandoning its initial commitment to prioritize humanity over profit.
Key takeaways:
Elon Musk's xAI is raising $6 billion at a pre-money valuation of $18 billion.
xAI is a rival to OpenAI, another company Musk co-founded and is currently suing.
Musk's connection to his other companies, including Tesla and SpaceX, could provide xAI with crucial training data.
With the new funding, xAI could become a formidable competitor in the AI world.
