Musk denies report that his AI company has secured $500 million of $1 billion funding goal
Elon Musk has said report That his artificial intelligence (AI) company, xaiIt is wrong to seek $500 million commitments from investors for a $1 billion goal.
“It’s simply not accurate,” he said in response to a user post about the Bloomberg article on the social media platform X.
Artificial intelligence (AI) startup XAI is discussing a valuation of $15 billion to $20 billion, though terms could still change in the coming weeks, Bloomberg reported, citing people familiar with the matter.
XAI could not immediately be reached for comment.
Musk and investors are expected to finalize terms in the next few weeks, Bloomberg reports, and some parties are evaluating whether they could get computing power in addition to, or in some cases, XAI equity shares.
Last December, Musk had said his artificial intelligence company was not raising funds, a day after the startup had filed with the US securities regulator to raise up to $1 billion in an equity offering.
Musk launched XAI in July last year in response to Big Tech’s AI efforts, which he criticized for excessive censorship and a lack of adequate safeguards.
“It’s simply not accurate,” he said in response to a user post about the Bloomberg article on the social media platform X.
Artificial intelligence (AI) startup XAI is discussing a valuation of $15 billion to $20 billion, though terms could still change in the coming weeks, Bloomberg reported, citing people familiar with the matter.
XAI could not immediately be reached for comment.
Musk and investors are expected to finalize terms in the next few weeks, Bloomberg reports, and some parties are evaluating whether they could get computing power in addition to, or in some cases, XAI equity shares.
Last December, Musk had said his artificial intelligence company was not raising funds, a day after the startup had filed with the US securities regulator to raise up to $1 billion in an equity offering.
Musk launched XAI in July last year in response to Big Tech’s AI efforts, which he criticized for excessive censorship and a lack of adequate safeguards.
