Elon Musk's AI startup 'xAI' is reportedly in negotiations to raise up to 890 billion yen



It has been reported that xAI , an AI startup founded by Elon Musk, is in talks to raise up to $6 billion (approximately 890 billion yen).

Elon Musk's AI start-up seeks to raise $6bn from investors to challenge OpenAI
https://www.ft.com/content/28983bdc-2a38-4103-beae-08d9542ab69d

Musk's xAI In Talks To Raise $6B — Report
https://news.crunchbase.com/ai/xai-fundraise-elon-musk-openai-chatgpt/

Musk's AI startup X.AI to raise $6 billion in funding at a proposed valuation of $20 billion - TechStartups
https://techstartups.com/2024/01/26/musks-ai-startup-x-ai-to-raise-6-billion-in-funding-at-a-proposed-valuation-of-20-billion/

Elon Musk's xAI eyes $6 billion funding to challenge ChatGPT maker OpenAI - BusinessToday
https://www.businesstoday.in/technology/news/story/elon-musks-xai-eyes-6-billion-funding-to-challenge-chatgpt-maker-openai-415014-2024-01-26

Musk's xAI seeks billions to rival his first AI venture - MSPoweruser
https://mspoweruser.com/musks-xai-seeks-billions-to-rival-his-first-ai-venture/

Elon Musk says his AI startup xAI not raising capital | Reuters
https://www.reuters.com/technology/elon-musks-ai-start-up-seeks-raise-up-6-bln-ft-2024-01-26/

According to a report in the Financial Times, the AI startup xAI launched by Mr. Musk is planning to raise funds to compete with existing AI companies such as OpenAI. xAI has partnered with a Hong Kong family office , a private company that handles investment and wealth management for wealthy families, to target sovereign wealth funds in the Middle East to raise capital, according to people familiar with the matter. It is said that there is.

Interest in AI technology is growing, especially in Silicon Valley, with various investors investing heavily in startups, causing a notable escalation in the AI market. xAI's funding seems to be aimed at taking advantage of this.

xAI reported to the US Securities and Exchange Commission in December 2023 that it was planning to raise up to $1 billion (approximately 150 billion yen). However, according to the testimony of those involved, xAI is aiming to raise a maximum of $6 billion, making it clear that it plans to raise an amount much larger than its original target.

Elon Musk's artificial intelligence startup 'xAI' applies to authorities to raise 147 billion yen - GIGAZINE



xAI's valuation is around $20 billion (approximately 3 trillion yen). Although it is still low compared to OpenAI's valuation, it is comparable to competitors such as Google-backed Anthropic.

Multiple media outlets, including the Financial Times, have reported that xAI is planning to raise up to $6 billion in funding, but Musk said, ``xAI has not raised any funding, and no one can comment on this.'' 'I have not had any discussions with anyone,' he wrote, denying the report.




However, when it was revealed that xAI was planning to raise up to $1 billion, Bloomberg reported that xAI has already raised $500 million (approx. Regarding the report that said, 'We succeeded in raising 100 million yen,' Mr. Musk posted that it was 'simply inaccurate,' arguing that there was a mistake in the report.




In November 2023, xAI became a hot topic when it announced Grok, a chatbot that is a competitor to OpenAI's ChatGPT. Mr. Musk has always emphasized the importance of responsible AI development, and recently suggested the possibility of developing AI and robotics products outside of Tesla because his stake in electric car maker Tesla is too low. .

Elon Musk announces ChatGPT's rival AI 'Grok' - GIGAZINE



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