xAI – new AI startup announced by Elon Musk

[wjfox]

Elon Musk’s AI startup seeks to raise $1bn in equity

Wed 6 Dec 2023 07.58 GMT

Elon Musk’s artificial intelligence startup, xAI, is seeking to raise $1bn (£0.8bn) as the world’s richest man tries to keep pace with rivals including OpenAI, Microsoft and Google in the race to dominate the field.

The company has already raised $135m (£107m) from investors and is seeking a total of $1bn in equity financing, according to a filing with the US Securities and Exchange Commission.

The race to develop generative AI – products that generate convincing text, image and audio from simple prompts – has intensified as Silicon Valley’s biggest companies battle for supremacy after the release of OpenAI’s ChatGPT in November last year.

After the sensational impact of that chatbot, Microsoft announced a deepening of its partnership with OpenAI in January backed by a $10bn investment.

Musk, the chief executive of Tesla and SpaceX and the owner of the X platform formerly known as Twitter, was one of OpenAI’s co-founders in 2015 but left three years later. In July, Musk launched xAI and last month the company released its first AI model, a chatbot with a “rebellious streak” called Grok.

https://www.theguardian.com/technology/ ... -in-equity

[weatheriscool]

[firestar464]

only useful for twatter users ig

[spryfusion]

[firestar464]

I feel like he has put OpenAI on the spot there.

[weatheriscool]

XAI and X Will Release Grok 2 Next Week and It is Claimed to Surpass GPT4 and Claude 3
March 29, 2024 by Brian Wang

Elon says Grok 2 should exceed current AI on all metrics. Grok 2 is in training now



https://www.nextbigfuture.com/2024/03/x ... ude-3.html

[firestar464]

Elon is trying to get the last laugh.

Well I'm not sure the public will let him have it if it's not safety-aligned.

[weatheriscool]

[weatheriscool]

[caltrek]

Elon Musk Raises $6 Billion to Challenge OpenAI
by Dan Primack and Erica Pandey
May 27, 2024

Introduction:

(Axios) Elon Musk's AI startup — xAI — announced that it has raised $6 billion in one of the largest venture capital funding rounds of all time.

Why it matters: This could help Musk begin to catch up with ChatGPT maker OpenAI, which he co-founded before leaving in a dispute that's become litigious.

The intrigue: Some of the xAI investors, such as Andreessen Horowitz and Sequoia Capital, also backed OpenAI.

Zoom in: All of the $6 billion is new money, Musk tells Axios, rather than shares "given" to investors in Musk's takeover of Twitter/X.

Conclusion:

The bottom line: xAI didn't say much about what the new money will go toward, but The Information recently reported that it plans to build a massive new supercomputer — the "Gigafactory of compute" —possibly in partnership with Oracle.

Read more here: https://www.axios.com/2024/05/27/elon- ... nvestors