Elon Musk's xAI secures billions in funding: Details here

As xAI prepares to raise billions, it has reportedly faced opportunities and challenges altogether. Although investors are attracted by its potential to revolutionize AI, xAI is said to overcome the doubts regarding its current offerings to justify the substantial investment.

Elon Musk's AI company xAI is reportedly on the brink of raising significant capital from Silicon Valley investors. The company aimed to secure USD 6 billion on a USD 18 billion pre-money valuation, with the deal which is expected to be finalised in the coming weeks.

Reports from The Information and TechCrunch suggest that the founder is set to hit the direct competition with OpenAI, with his booming AI technology.

With just ten months of existence, xAI has been seeking to challenge the competitor OpenAI, a company co-founded by Musk himself, and the founder of ChatGPT. Musk has been publicly criticising OpenAI's shift from a nonprofit model to ...