Investors close to the Tesla and SpaceX CEO are in talks to help xAI raise $3 billion in a funding round that could value it at $18 billion, sources told the Wall Street Journal.
Musk started xAI last year as a rival to ChatGPT parent OpenAI and xAI launched its own chatbot named Grok, stepping up its competition in the AI space.
The news of the possible $3 billion fundraising round indicates xAI's pursuit of capital as rivals like OpenAI secure significant commitments from big players like Microsoft and backers Google and Amazon.
While xAI and its competitors vie for investor support, they also engage in talent acquisition battles, as highlighted by Tesla engineer Ethan Knight's move to xAI causing a stir.
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