Elon Musk’s AI startup xAI is reportedly seeking $4 billion to take on ChatGPT parent OpenAI – valuation could reach $18 billion

Elon MuskArtificial intelligence startup, xAI Co., Ltd.is reportedly in talks to raise a significant amount of funding that could reach up to $4 billion.

what happened:xAI is currently in talks with potential investors, and this proposed funding round could send the company’s value soaring to $18 billion, Bloomberg reported on Friday, including offering materials. The report cited a source who received an email about the possibility of funding.

The company’s pitch, which includes a 20-page presentation, is circulating among Silicon Valley venture capitalists. This highlights Musk’s successful track record. tesla company and Space Exploration Technologies Co., Ltd. or space xNot only the possibility of xAI To leverage high-quality data from Musk’s social networks, Xtrain an AI model.

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Access to high-quality data is essential for developing large-scale language models that power AI chatbots. This is an area where xAI aims to compete with established players such as: Chat GPT-parent OpenAI.

why is it important: This news comes after a series of conflicting reports regarding xAI’s funding. In January, it was reported that the startup had secured $500 million in funding, a claim that was quickly debunked by Musk. “xAI has not raised any funding and I have not spoken to anyone regarding this,” the tech mogul said at the time.

Meanwhile, last month Musk created an xAI chatbot. Grok Open sourcing, a move favored by industry experts Gene Munster It is predicted that xAI will attract a large amount of funding. “Although Mr. Musk has reported that xAI has not and is not raising funding, he believes this situation will change soon, as speed and financial strength are paramount in the AI ​​race.” “If that happens, he’s going to raise a lot of money,” Starr said, adding. Money quickly. ”

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