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San Francisco –
Entrepreneur Elon Musk wants to raise $3 to $4 billion in an investment round for xAI, his own artificial intelligence (AI) company. This would bring the value of the company to 18 billion dollars (more than 19 billion euros).
Friday, April 12, 2024 at 4:46 PM
According to the financial news agency Bloomberg, this is stated in documents that Musk has provided to prospective investors. These are currently still preliminary plans. The amounts could still change.
XAI wants to use the money to better compete with ChatGPT, OpenAI’s popular chatbot. The documents explain why investors should invest in the start-up. Musk’s success with Tesla and SpaceX and the use of data from his social networking site X are cited as reasons.
Disagreement
Musk was one of the founders of OpenAI, the company behind ChatGPT. The billionaire left the company in 2018 after a disagreement with the company’s top management. Last year, Musk founded xAI to counterbalance OpenAI. The billionaire also recently sued OpenAI and CEO Sam Altman, alleging that the company and Altman violated agreements made during the period when Musk was involved in the founding of OpenAI. (b)
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