January 19th - Elon Musk has refuted a recent assertion that his AI firm, xAI, has amassed $500 million from backers, aiming for a $1 billion target. "This claim lacks accuracy," he remarked, responding to a social media discussion regarding the Bloomberg piece on platform X.
Despite this, Bloomberg sources hint at ongoing talks valuing xAI between $15 and $20 billion, with potential shifts in terms before finalization.
Attempts to contact xAI for insights have been unfruitful. Negotiations involving Musk and potential investors are slated for closure in the forthcoming weeks. These discussions include deliberations on securing computational resources, alongside or as an alternative to xAI shares.
This comes after Musk, in the previous December, denied any fundraising activities for his AI venture, contradicting a filing with the U.S. securities authorities to gather up to $1 billion through equity sales.
Musk launched xAI in July last year in response to Big Tech's AI efforts, which he has criticized for excessive censorship and a lack of adequate safety measures.
