Elon Musk xAI Claims: Musk Denies $500 Million Investment
Musk declared the claim to be untrue, pointing out that the details contained inside were deceptive and erroneous. Earlier, sources close to Bloomberg claimed that talks over xAI‘s valuation ranged from $15 billion to $20 billion.
The story reportedly alluded to ongoing discussions between investors and Musk regarding ways to obtain computer power in lieu of or in addition to equity shares in xAI. According to sources, the ongoing negotiations should conclude in the upcoming weeks. Through an SEC filing, the funding objective for xAI was made public in December 2023.
Musk’s Past Statements Confused
According to a December 5, 2023, SEC filing, the AI business had already raised $865.3 million through a private sale of unregistered equity instruments, notwithstanding Musk’s denial of the Bloomberg report. Musk had already disclosed in November of last year that X equity investors would acquire a 25% share of xAI.
The business unveiled Grok, a proprietary artificial intelligence assistant tool that works similarly to OpenAI’s ChatGPT, a few months after its formal launch. Grok is the greatest AI tool available right now, according to Musk. In short, Musk contradicts himself a lot, even though he denies the allegations.