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X.AI: Elon Musk Wants to Raise $1 Billion Funds, Files New Equity Offering

Dec 06, 2023 - techtimes.com
Elon Musk's startup, X.AI, is seeking to raise $1 billion in funds, according to a recent filing with the US Securities and Exchange Commission (SEC). The artificial intelligence company, known for developing the Grok AI chatbot, had previously raised $135 million from four investors in November. The purpose of the new funding round is unclear, but it is speculated to be used for future developments in AI.

X.AI, which was first established in April 2023, aims to understand more about the universe. Its AI chatbot, Grok, is currently in a beta testing phase on Musk's social media platform, X. Grok is designed to answer questions with wit and a rebellious streak, and is available only on the X Premium+ tier, the platform's most expensive subscription.

Key takeaways:

  • Elon Musk's startup, X.AI, is seeking to raise $1 billion in funds according to a new document filed with the US Securities and Exchange Commission (SEC).
  • The company, known for developing the Grok AI chatbot, has already attracted several interested parties in its previous offer.
  • X.AI was created with the goal of understanding more of the universe, and its AI chatbot Grok is designed to answer questions with wit and a rebellious streak.
  • The company was formed in April 2023, with Musk as its only director, and its future developments in AI will be funded by the equity offering.
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