Bloomberg: xAI has received a $500 million investment commitment, with a valuation of at least $15 billion
Musk: This is fake news from Bloomberg
Bloomberg: xAI has received a $500 million investment commitment, with a valuation of at least $15 billion
Bloomberg
According to sources, xAI, the AI company owned by Elon Musk, has received a $500 million investment commitment from investors to achieve a funding goal of $1 billion.
The sources state that the company is discussing a valuation of $15 billion to $20 billion, but the terms may still change in the coming weeks. As they are not authorized to discuss the investment publicly, they declined to reveal their identities.
It is possible that the investors of both X (formerly known as Twitter) and xAI overlap, as Musk acquired X for $4.4 billion, with investors including Larry Ellison, the founder of Oracle, Sequoia Capital, a16z, Fidelity, and Binance.
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Elon Musk founded xAI last year to compete against products like OpenAI.
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Musk promotes his own AI, Twitter subscribers can use the free “xAI” tool
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Musk: This is fake news from Bloomberg
However, Elon Musk responded to both tweets, stating that this is fake news from Bloomberg and that the information is inaccurate.
Previously, it was reported that xAI indeed submitted documents to the SEC in December to raise up to $1 billion through the issuance of new shares. At that time, $134.7 million worth of securities had already been sold, and $865.3 million worth of securities were yet to be sold, with a minimum investment amount of $2 million.
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Musk sparks another AI war, startup company X.AI plans to raise $1 billion
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Elon Musk
X
xAI
Twitter
Funding
Musk
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