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Musk's xAI raising $6 billion at $18 billion valuation: Report
Inshorts
·
55y ago
Medial
Elon Musk's AI startup xAI is close to raising $6 billion at a pre-money valuation of $18 billion, TechCrunch reported. The deal would reportedly give investors around 25% stake in the 10-month-old company and is expected to be finalised in the next few weeks. Sequoia Capital and Future Ventures are among the investors participating in the round, the report said.
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Elon Musk says his AI startup xAI not raising capital
Economic Times
·
1y ago
Medial
Elon Musk clarified that his AI company xAI is not in talks to secure funding, contrary to a report by the Financial Times. Musk stated on social media platform X that xAI is not raising capital, and he has had no discussions in that regard. The Financial Times reported that xAI was seeking up to $6 billion in funding at a valuation of $20 billion. Musk's warnings about developing AI outside Tesla unless he gains more voting control have been noted, emphasizing his focus on building safer AI.
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xAI, Elon Musk’s OpenAI rival, is closing on $6B in funding and X, his social network, is already one of its shareholders
TechCrunch
·
1y ago
Medial
Elon Musk's AI venture, xAI, is securing $6 billion in funding, valued at $18 billion pre-money, attracting interest from prominent investors like Sequoia Capital and Future Ventures. xAI aims to integrate data from Musk's various companies to enhance its AI capabilities, impacting projects from Tesla to SpaceX. This funding round emphasizes xAI's growing influence in the AI sector.
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Musk's OpenAI-rival firm xAI raises $6 billion in funding
Inshorts
·
7m ago
Medial
Elon Musk's AI company xAI has raised $6 billion (around ₹50,800 crore) in a fresh funding round. This comes as the OpenAI-rival aims to expand its supercomputer to keep at least one million graphics processing units (GPUs). This funding brings xAI's total amount raised to $12 billion. A report earlier claimed the round would value xAI at $50 billion.
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Elon Musk's AI startup xAI raises $6 billion in latest funding round
Economic Times
·
6m ago
Medial
Elon Musk's AI startup xAI has raised $6 billion in its latest funding round. The company, known for its Grok chatbot, attracted investments from venture capitalists, chipmakers NVIDIA and AMD, and investment funds from Saudi Arabia and Qatar. Despite Musk's warnings about the risks of AI, xAI continues to seek investment in the sector. The company now has an estimated valuation of $50 billion, although it is still overshadowed by competitor OpenAI's $157 billion valuation. xAI plans to use the funding to develop groundbreaking products and accelerate research in future technologies.
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Elon Musk's xAI is luring more investors through special purpose vehicles charging high fees
Business Insider
·
1y ago
Medial
Elon Musk's AI startup, xAI, is attracting investors through special purpose vehicles (SPVs) that come with substantial fees. The startup is seeking $3 billion in outside investment at a $15 billion pre-money valuation, which would increase the post-money valuation to $18 billion. Investors who commit $10 million or more can join an SPV ahead of other SPVs in the cap table of xAI. However, this comes with a 5% upfront fee, a 1% management fee, and a 10% carried interest. The email sent to potential investors suggests that xAI expects to raise the funds in the next few weeks.
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Elon Musk companies may add over $220 billion in combined value after new funding rounds: Report | Company Business News
Livemint
·
4m ago
Medial
Elon Musk’s companies, including Tesla, SpaceX, and xAI, have significantly increased in value since the US presidential election, with a combined $613 billion surge. Tesla's stock has dropped about 25% from its peak but still holds strong on valuation. SpaceX became the most valuable tech startup, while xAI almost doubled its valuation. New funding rounds may add over $220 billion to Musk's private companies, potentially raising his net worth to over $420 billion.
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Musk's xAI seeks $20 bn funding at $120 bn valuation: Report
Inshorts
·
2m ago
Medial
Elon Musk's xAI Holdings is in talks to raise $20 billion in fresh funding at a valuation of over $120 billion, Bloomberg reported. If successful, this would be the second-largest startup funding round after OpenAI's $40 billion raise at a $300 billion valuation last month. In March, Musk sold his social media platform X to xAI for $45 billion.
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Inside Elon Musk’s quest to beat OpenAI at its own game
Livemint
·
7m ago
Medial
Elon Musk's artificial intelligence startup, xAI, is trying to turn its rapid development into a profitable business. Despite raising over $11 billion and achieving a valuation of $50 billion, xAI's revenue is still relatively small at around $100 million per year. Most of its revenue comes from Musk's own companies, but xAI is now attempting to stand on its own by launching paid tools and a consumer app. It faces stiff competition from well-established AI developers like OpenAI, Google, Meta Platforms, and Anthropic. However, xAI has advantages in exclusive data from X and Tesla, as well as a focus on building larger data centers quickly.
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Elon Musk’s xAI in talks to raise funding valuing it at $40 billion
Livemint
·
8m ago
Medial
Elon Musk's xAI is reportedly in talks with investors for a funding round that could value the startup at around $40 billion. The funding discussions are still in the early stages, and xAI hopes to raise several billion dollars to add to its $40 billion valuation. The company has recently released a tool for developers and has plans to expand its Memphis data center. However, xAI has faced criticism for generating controversial images using its AI model. The funding round comes as other AI startups, like OpenAI, are also raising substantial funds to advance their technology.
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Elon Musk's X in talks to raise funds at $44 billion valuation
Economic Times
·
4m ago
Medial
Elon Musk's social media platform, X, is in talks to raise funding at a $44 billion valuation, according to Bloomberg News. Discussions are ongoing, and details might change or be abandoned. This follows X's previous efforts to gather $10 billion for xAI, potentially valuing Musk's AI venture at $75 billion. Additionally, Wall Street banks are preparing to sell up to $3 billion in X's debt holdings, initially lent for Musk's buyout of the platform.
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