Investors close to Elon Musk are considering a $3 billion funding round for xAI, valuing it at $18 billion. This move comes amidst fierce competition in the AI space with rivals such as OpenAI and Anthropic.
xAI, founded by Musk as a competitor to OpenAI, recently launched a chatbot named Grok. The company is actively seeking capital, while OpenAI secured $13 billion from Microsoft and Anthropic raised $6 billion.
Elon Musk was reported to be seeking up to $6 billion funding for xAI, but later denied it, while a regulatory filing indicated a $1 billion fundraising target. The competition for AI talent intensifies, as xAI attracts engineers from Tesla.
Musk tweeted about an engineer joining xAI, highlighting the competition for talent between xAI and OpenAI. The article emphasizes the escalating race for investor support and AI expertise in the AI industry.
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