Elon Musk’s AI startup seeks to raise $1bn in equity
by Mark Sweney from on (#6GY2D)
Billionaire wants xAI to keep pace with rivals including OpenAI, Microsoft and Google
Elon Musk's artificial intelligence startup, xAI, is seeking to raise $1bn (0.8bn) as the world's richest man tries to keep pace with rivals including OpenAI, Microsoft and Google in the race to dominate the field.
The company has already raised $135m (107m) from investors and is seeking a total of $1bn in equity financing, according to a filing with the US Securities and Exchange Commission.
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