Elon Musk’s company xAI, which aims to compete with the popular ChatGPT, is reported to be worth more than 24 billion dollars according to Bloomberg news agency, citing anonymous sources. Musk is said to be close to completing financing for the company, with a recent deal of around $6 billion still pending. The CEO has raised his financial targets for xAI significantly in a short period of time, with initial hopes of raising $1 billion for the company in January.
Investors in Silicon Valley are optimistic about xAI, particularly due to Musk’s previous successes with Tesla and SpaceX. Musk has also hinted that xAI and its chatbot Grok could potentially utilize data from his social media platform X (formerly Twitter), highlighting the importance of data access for building large language models that power AI chatbots.
Overall, xAI’s potential success and Musk’s involvement have generated excitement and high expectations in the tech industry.
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