Investors near Elon Musk are in talks to assist his artificial-intelligence startup xAI raise $3 billion in a round that may value the corporate at $18 billion, the Wall Street Journal reported on Friday.
Enterprise capital firm Gigafund and Steve Jurvetson are among the many backers considering investing within the round, the report said, citing people aware of the matter.
The WSJ report also said that a co-founder of one other enterprise firm can be among the many backers. Nonetheless, it didn’t name the person or the firm.
Investors near Elon Musk are in talks to assist his artificial-intelligence startup xAI raise $3 billion. REUTERS
Terms of the xAI fundraising weren’t finalized and the plans could change, the Journal said, adding that current fundraising talks have gathered momentum recently.
xAI couldn’t be immediately reached for comment. Musk’s office didn’t reply to a Reuters request for comment.
Searching for an alternative choice to Microsoft-backed OpenAI and Alphabet’s Google, Musk launched xAI last yr.
Earlier this yr, Musk said xAI was not in talks with investors to secure funding, following a media report concerning the startup raising as much as $6 billion.
xAI in March launched an enhanced version of its chatbot Grok – named Grok-1.5, a chatbot rivaling OpenAI’s ChatGPT. SOPA Images/LightRocket via Getty Images
The Financial Times in January reported xAI was in talks to boost funding at a valuation of $20 billion.
“xAI shouldn’t be raising capital and I actually have had no conversations with anyone on this regard,” Musk said at the moment.
xAI in March launched an enhanced version of its chatbot Grok – named Grok-1.5, a chatbot rivaling OpenAI’s ChatGPT.
The chatbot is on the market to make use of by some users of X, formerly often known as Twitter.
