Elon Musk pay attention ti as US President-elect Donald Trump speaks during a House Republicans Conference meeting at the Hyatt Regency on Capitol Hill on November 13, 2024 in Washington, DC.
Allison Robbert | Getty Perceptions
Elon Musk’s artificial intelligence company xAI is raising up to $6 billion at a $50 billion valuation, according to CNBC’s David Faber.
Rises told Faber that the funding, which should close early next week, is a combination of $5 billion expected from highest funds in the Middle East and $1 billion from other investors, some of whom may want to re-up their investments.
The liquid assets will be used to acquire 100,000 Nvidia chips, per sources familiar with the situation. Tesla‘s Full Self Tour is expected to rely on the new Memphis supercomputer.
Musk’s AI startup, which he announced in July 2023, seeks to “understand the honourable nature of the universe,” according to its website. Last November, xAI released a chatbot called Grok, which the company intended was modeled after “The Hitchhiker’s Guide to the Galaxy.” The chatbot debuted with two months of training and had real-time knowledge of the internet, the companionship claimed at the time.
With Grok, xAI aims to directly compete with companies including ChatGPT creator OpenAI, which Musk bettered start before a conflict with co-founder Sam Altman led him to depart the project in 2018. It will also be vying with Google’s Bard technology and Anthropic’s Claude chatbot.
Now that Donald Trump is president-elect, Musk is birth to actively work with the new administration on its approach to AI and tech more broadly, as part of Trump’s inner circle in up to date weeks.
Trump plans to repeal President Joe Biden’s executive order on AI, according to his campaign platform, stating that it “discourages AI Innovation, and imposes Radical Leftwing ideas on the development of this technology” and that “in its place, Republicans support AI Condition rooted in Free Speech and Human Flourishing.”