Elon Musk’s synthetic intelligence firm xAI is looking for to lift $1 billion in funding from fairness buyers, in accordance with a new filing.
Musk has already raised almost $135 million, in accordance with a doc filed Tuesday with the Securities and Change Fee, which doesn’t embrace the names of buyers. Axios earlier reported on the submitting.
Musk created xAI earlier this 12 months to attempt to compete with different generative AI corporations, together with OpenAI, the place Musk was a co-founder. The corporate has debuted one product, a chatbot known as Grok, skilled on knowledge from the X social community, which Musk additionally owns. It’s “designed to answer questions with a bit of wit and has a rebellious streak,” in accordance with the corporate web site.
In November, Musk said that fairness buyers in X, previously known as Twitter, will personal 25% of xAI. He additionally stated that customers of the social community who join Premium+, a subscription priced beginning at $16 monthly within the U.S., will get entry to Grok.
Musk has often and publicly criticized OpenAI, the highest-profile AI startup and developer of ChatGPT, since he left its board in 2018, particularly after it created a for-profit arm the next 12 months. He has said he believes it to be “effectively controlled by Microsoft.” Microsoft Corp. has invested some $13 billion into OpenAI.
Regardless of his work in AI, Musk has expressed deep reservations concerning the know-how. The billionaire was amongst a gaggle of researchers and tech business leaders who in March known as for builders to pause the coaching of highly effective AI fashions.
In the course of the latest ouster and reinstatement of OpenAI’s CEO, Sam Altman, Musk stated he needed to know the rationale he was fired, in case the board had found one thing harmful concerning the AI. “I don’t think it was trivial,” he said on the DealBook convention final week.
Musk, 52, oversees six corporations: Tesla, SpaceX, X, Neuralink, Boring Co. and xAI.
