Elon Musk's AI firm, xAI, is preparing to launch a consumer app akin to ChatGPT, allowing direct access to its Grok chatbot on personal devices.
Following a successful funding round potentially worth $5 billion, xAI's valuation could reach $50 billion, nearly double its worth six months prior.
To reward early investors from his Twitter acquisition, Musk allocated them up to 25% of xAI shares, enhancing their position amidst the company's rising value.
Institutional backers like Fidelity and Oracle's Larry Ellison stand to benefit significantly from xAI’s growth, with $11 billion raised after the funding round.
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