According to Cointelegraph, Elon Musk denied the accuracy of a report claiming that xAI, an artificial intelligence (AI) company, secured $500 million of a $1 billion goal from investors.
With insights from Bloomberg, xAI has gained attention due to a valuation ranging from $15 billion to $20 billion, with potential adjustments in the coming weeks.
“NEWS: Elon Musk’s artificial intelligence company, xAI, has secured $500 million in commitments from investors toward a $1 billion goal!” added Cointelegraph.
It is believed that Musk and investors plan to settle terms in the coming weeks. The plan is expected to discuss the possibility of obtaining computing power alongside or instead of xAI equity shares, concluded Cointelegraph.
(With insights from Cointelegraph)
