Elon Musk’s AI Chatbot Startup xAI Seeks $1 Billion in Funding
Elon Musk’s new venture, xAI, has filed a Form D with the SEC to raise up to $1 billion in funding. The document reveals that over $134 million has already been committed to the platform. Despite some controversy surrounding AI development, the reputation of the founders is expected to generate significant interest in the sale.
Bloomberg Reports Funding Progress, Musk Disputes Claims
According to Bloomberg, xAI is already halfway towards its funding target, with $500 million committed by investors. It is also reported that X investors will receive a 25% stake in xAI. However, Elon Musk has refuted Bloomberg’s claims as “fake news” without providing further clarification.
Potential Investment Options and Disputed Details
Investors who supported Musk’s takeover of Twitter are said to be in talks with him regarding potential investments in xAI. Some have expressed interest in purchasing computing power from xAI instead of or alongside shares. Musk’s dispute with Bloomberg leaves many questions unanswered regarding funding numbers, investment strategy, timeline, and valuation.
Hot Take: Uncertainty Surrounds xAI Funding as Musk Denies Bloomberg Report
The future of xAI’s funding remains uncertain as conflicting reports emerge. While Bloomberg claims that the startup has secured significant commitments and is well on its way to reaching its funding target, Elon Musk disputes these claims as “fake news.” Only time will tell how much truth lies in the ongoing saga surrounding xAI’s funding efforts.
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