2024-01-27 16:45:25
Elon Musk said yesterday, Friday, that his artificial intelligence company,
“XAI is not raising capital and I have not had any conversations with anyone in this regard,” Musk said in a post on the X platform.
The Financial Times reported that XAI is in talks to raise $20 billion in funding. She added, citing several people familiar with the matter, that the startup is in talks with family offices in Hong Kong and is targeting sovereign wealth funds in the Middle East.
The artificial intelligence race has heated up, with many investors offering large sums to startups looking to capitalize on the technology that has become the focus of Silicon Valley over the past year. According to the newspaper, Musk’s office did not respond to requests for comment.
Last week, Musk denied a report that XAI had secured $500 million in commitments from investors to meet a $1 billion funding goal.
The Tesla CEO has been vocal regarding his plans to build safer artificial intelligence. Musk co-founded OpenAI in 2015, but resigned from its board of directors in 2018.
Last year, XAI launched Gork, a chatbot that competes with OpenAI’s GPT chat.
Musk also warned earlier this month once morest developing artificial intelligence and robotics outside of Tesla, unless he gains more voting control at the electric car maker.
He said he would not be comfortable leading Tesla in AI unless he had 25% voting control.
Thanks to the popularity of GBT, the AI industry has become a magnet for money in a declining startup funding environment. Inflection AI, which is backed by Anthropic and Microsoft, has also raised money in recent months.
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