Is It Difficult For Elon Musk’s AI Business, Xai, To Get Funding In Order To Rival Openai?

Is It Difficult For Elon Musk's AI Business, Xai, To Get Funding In Order To Rival Openai?

12 April 2024 – According to paperwork sent to investors, Elon Musk’s artificial intelligence firm X.AI Corp. is looking to fund $3 billion to $4 billion in a transaction that would value the business at $18 billion, Bloomberg reported.

The article further said that the approximately 20-page presentation deck has been distributed to the venture capital community in Silicon Valley. According to a source close to Elon Musk, even his acquaintances “have had conversations within their networks to gauge interest in participating in the deal,” Bloomberg was informed.

The article said that the conditions and financial amounts of the investment round are still up in the air and may change. However, The Wall Street Journal has already published some of the same facts.


Conclusion

The pitch deck highlights Elon Musk’s accomplishments at Space Exploration Technologies Corp. and Tesla Inc. and concentrates on possible selling points for investors. According to the presentation deck, xAI will be able to train on the superior data from Elon Musk’s social network X.