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Monday, March 4, 2024

Elon Musk’s xAI firm is looking for as much as $1 billion in investments

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Founded in April, xAI is Musk’s attempt at jumping on the AI hype prepare. The corporate’s function is to “perceive the true nature of the universe,” in response to its web site, one thing the launch of its Grok AI chatbot is seemingly alleged to additional.

Grok pulls real-time info from X (previously Twitter) to energy a few of its responses, however it’s at present solely obtainable in early entry to X’s Premium Plus subscribers. Regardless of the shut ties between Grok and X, xAI is separate from X Corp., X’s mother or father firm.

The SEC submitting notes xAI will solely settle for a minimal of $2 million from exterior traders. The submitting additionally says, “The issuer has entered right into a binding and enforceable settlement for the acquisition and sale of the Complete Remaining to be Offered listed above,” which certain appears like the remainder of the billion is already a completed deal, as Axios has noted.

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