Elon Musk's xAI wants $1B cash infusion in exchange for equity shares

Trending 2 months ago

The world's richest man is allurement for banknote again, this time he'd like $1 billion for his afresh formed AI outfit, with alone investors told to action at atomic $2 actor for a allotment of the disinterestedness pie.

In a filing bygone with the US Securities and Exchange Commission (SEC), Elon Musk's xAI said it had already nabbed about $135 actor from four investors, and had "binding and acknowledged agreement[s]" in abode for the actual $865 million.

Sorry readers, if you were acquisitive to buy in it ability already be too late. You may still accept a chance, however, as the SEC said that it won't adjure to the accurateness of the advice in the filing. So, provided you accept a additional $2 actor lying about – the minimum advance xAI will access – you could still buy into Musk's adventure "to accept reality," as the billionaire said of xAI's goals back announcement its founding in July.

xAI has back launched its own AI chatbot – "Grok" – which the aggregation describes as accepting "a bit of wit and … a alienated streak, so amuse don't use it if you abhorrence humor!" 

Grok reportedly has real-time ability of the apple via posts on X, aforetime Twitter, and "will additionally acknowledgment ambrosial questions that are alone by best added AI systems." Access to Grok is belted to X Premium+ subscribers accommodating to angle over $16 a ages for the advantage of abutting the waitlist. 

Musk has alleged Grok "based," (an online political argot appellation for those unfamiliar) and marketed it as a acknowledgment to what he has called "woke AI" from added organizations like OpenAI. Being woke AI, Musk alleges, agency actuality accomplished to lie.

In actuality, Grok's acceptance to real-time abstracts from X appears to accept aloof angry it into a sweary internet troll that still won't acquaint you how to accomplish cocaine.

xAI "is focused on array of AGI," Musk said during Tesla's Q2 balance alarm this year back asked if Tesla investors should be anxious that the new action could be a distraction. "I anticipate there will be some amount that xAI brings to Tesla," Musk added.

Musk has ahead declared worry over the dangers of artificial accepted intelligence - we accept if he's the one authoritative it he feels abundant safer.

  • Another amateur to OpenAI? OK, we'll acquiesce it
  • X may alternation its AI models on your amusing media posts
  • X's acknowledged eagles dive on Media Matters over antisemitic agreeable row
  • Elon Musk yearns for AI devs to body 'anti-woke' battling ChatGPT bot

Whether investors in added AI apparel like OpenAI, which is still addled from the anarchy surrounding CEO Sam Altman's brief ouster, will about-face to Musk's action is unanswered. The acumen for Altman's battlefront is still unclear, above OpenAI administrator and LinkedIn cofounder Reid Hoffman said yesterday, and rivals like Anthropic accept seized the opportunity to point out how they alter and why they're a bigger option. 

Musk, on the added hand, afresh told X advertisers off in very assertive terms afterwards some pulled ads in the deathwatch of his advance of antisemitic agreeable and ads served abutting to abhorrence speech on his claimed amusing media platform. 

Whether AI investors will appetite to be associated with a aggregation whose AI is accomplished abundantly on posts from X isn't anon clear. The names of those who've already bought into xAI's disinterestedness round, and the declared investors accessible to accompany the annular to $1 billion, weren't included in the SEC filing, and xAI hasn't responded to questions from The Register. ®