Elon Musk's artificial intelligence startup expects six billion dollars in funding
Kyiv • UNN
Elon Musk is likely to raise $6 billion for his AI startup xAI, a competitor to OpenAI, to develop "good" general artificial intelligence that aims to understand humanity.
Elon Musk has convinced a large group of investors to raise $6 billion for the development of xAI, a competitor to OpenAI in the field of artificial intelligence, Handelsblatt and Techcrunch report, UNN reports.
Details
Elon Musk is probably close to raising $6 billion, with a preliminary estimate of $18 billion, to develop xAI, an artificial intelligence startup that is currently a key competitor to OpenAI. The terms of the deal have already changed. A few weeks ago, it was announced that xAI wanted to raise four billion dollars, but today the media reported that it is likely to raise six billion dollars. Sequoia Capital and Future Ventures, a venture capital fund run by Musk's longtime friend Steve Jurvetson, are expected to participate in this round.
For reference
Musk founded the AI startup xAI in the spring of 2023. According to his own statements, he pursues the main goal of developing a “good” general artificial intelligence that wants to understand humanity, not destroy it. It should get to the bottom of all the questions that scientists have not yet been able to solve. According to the website, the team consists of engineers working for companies such as Google, Microsoft, and ChatGPT provider OpenAI.
Recall
The boom of artificial intelligence (AI) requires huge computing power and energy loads, which poses risks to the power grid and the transition to cleaner energy sources.
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