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Elon Musk said on Friday (Jan 26) his artificial intelligence firm xAI was not in talks with investors to secure funding, following a media report earlier in the day on the startup's effort to raise up to US$6 billion (S$8 billion). "xAI is not raising capital and I have had no conversations with anyone in this regard," Musk said in...
The Financial Times reported xAI was in talks to raise funding at a valuation of $20 billion. The startup is in talks with family offices in Hong Kong and is targeting sovereign wealth funds in the Middle East, according to the FT report, which cited multiple people familiar with the matter.
Elon Musk AI Startup: "xAI is not raising capital and I have had no conversations with anyone in this regard," Musk said in a post on X.
Elon Musk: The AI race has been heating up with several investors signing big checks for start-ups looking to capitalize on what has captured Silicon Valley's attention over the past year.
At $20 billion, xAI's valuation would be a fraction of OpenAI's, but in line with some other peers such as Google-backed Anthropic.