San Francisco, December 6: Elon Musk’s artificial intelligence (AI) company, XAI, is reportedly seeking to raise up to $1 billion in equity investment, according to a filing with the US Securities and Exchange Commission (SEC). So far, Musk has raised $134.7 million for xAI, with the first sale set to take place on November 29. SEC filings indicate that xAI will only accept a minimum of $2 million from outside investors.
xAI’s AI chatbot, named Grok, is positioned as a competitor to OpenAI’s ChatGPT. Musk has claimed that GROC has more current information than traditional GPT models. Grok is offered to users as part of X Premium Plus, which costs $16 per month via the web.
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Described as an AI assistant modeled after The Hitchhiker’s Guide to the Galaxy, Grok is designed to answer questions with a touch of humor and rebellion. Elon Musk, who co-founded OpenAI but left in 2018, launched xAI earlier this year. The XAI team includes members who have previously worked at leading AI organizations such as OpenAI, Google Research, Microsoft Research, and Google’s DeepMind. The stated goal of XAI is to understand the true nature of the universe.