Elon Musk is looking to raise about $6.5 billion for his artificial intelligence startup xAI, which could value the company at more than $24 billion after the funding round closes.
Musk's AI startup
Large-scale funding plans
Elon Musk's ambitious project in the field of artificial intelligence xAI is approaching the end of another round of financing. According to sources familiar with the situation, the company plans to attract about $6.5 billion in investments by the end of June. Such an amount will allow the company to reach a total valuation of more than $24 billion after raising funds.
Growing appetites of the startup
Initially, it was planned to close the deal worth approximately $6 billion in early May . However, the negotiations, which have been ongoing since last year, have not yet ended. xAI's funding ambitions have grown significantly from plans to raise $1 billion by the end of 2023. Currently, the parties to the agreement value the startup at $18 billion before attracting new investments.
Competition with OpenAI
Positioning itself as a competitor to OpenAI, xAI is attracting Silicon Valley investors, building on Elon Musk's successful experience at Tesla and SpaceX. The company will have access to Twitter (now X) data, which is critical for building large language models, the technology behind AI chatbots.
Emphasis on truthfulness and fun
During a speech at the Viva Technology conference in Paris, Elon Musk stated his desire to make xAI "the most truthful" artificial intelligence. He criticized Google's and OpenAI's AI models for being "tailored" to political correctness. At the same time, Musk added that another goal of xAI is "trying to become the funnest AI."
Glossary
- Elon Musk is a famous American engineer, entrepreneur and innovator, founder of Tesla, SpaceX and X (formerly Twitter).
- xAI is an artificial intelligence startup founded by Elon Musk.
- OpenAI is a leading AI company known for models such as GPT-3 and ChatGPT.
- Grok is an artificial intelligence chatbot developed by xAI.
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How does xAI position itself in the market compared to other AI companies?
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Discussion of the topic – Elon Musk is preparing to value startup xAI at $24 billion after a new round of funding
Elon Musk's artificial intelligence startup xAI is likely to close a new round of funding in June. According to forecasts, after attracting investments, the total value of the company will exceed $24 billion.
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Михайло
Exciting news! Musk wants to get rid of the competition and strengthen the position of his company. $24 billion is an impressive amount that underlines its ambitious plans in the AI market. 🤖💰
Софія
I wonder if this will have a positive effect on the development of AI? Won't monopoly lead to abuse and limit innovation? It is necessary to take into account different views. 🤔
Олександр
It is important that Musk plans to make his AI as "true" and fun as possible. This can be an interesting contrast to how Google or OpenAI adjust to political correctness. 😄🔍
Ганна
I wonder if Grok will use data from Twitter for training. This may give him access to a vast amount of information, but also potentially introduce bias. 📊🧠
Ігор
And who thinks that $24 billion is too much? Maybe Musk should focus on more realistic goals and invest in quality research instead of chasing records? 💸🤨
Василь
Um, new trends and technologies are ridiculous and pointless. Why do we even need these "fun" artificial intelligences? Life is complicated enough. 😒
Катерина
Vasyl's point of view is understandable, but I believe that AI can fundamentally change the world for the better. Imagine if they could solve the problems of health care, ecology or hunger! 🌍💡
Юрій
While the future of AI looks exciting, I worry about security and privacy issues. Can we trust powerful technology in the hands of one person? 🔐⚠️