Anamika Dey, editor
Elon Musk’s artificial intelligence business, xAI, is attempting to raise up to $6 billion at a valuation of $50 billion.
According to sources who spoke with Faber, the funding, which is anticipated to be completed early the next week, is comprised of a combination of five billion dollars from sovereign funds in the Middle East and one billion dollars from other investors, it is possible that some of these investors will want to increase their investments.
The funds will be utilized to purchase one hundred thousand chips from Nvidia, according to persons who are acquainted with the matter. The new Memphis supercomputer is anticipated to be the foundation upon which Tesla’s Full Self Driving will be built.
According to the website of Musk’s artificial intelligence firm, which he unveiled in July 2023, the enterprise’s primary objective is to “understand the true nature of the universe.” Grok, a chatbot developed by xAI and originally introduced in November of last year, was reportedly inspired by “The Hitchhiker’s Guide to the Galaxy,” according to the company himself. At the time, the corporation asserted that the chatbot had been operational after undergoing training for a period of two months and possessed real-time knowledge of the internet.
With Grok, xAI intends to directly compete with other businesses, such as OpenAI, the company that was responsible for the creation of ChatGPT. Musk was a co-founder of OpenAI, but he left the project in 2018 due to a disagreement with Sam Altman, who was also a co-founder. In addition, it will compete with the Bard technology developed by Google and the Claude chatbot developed by Anthropic.
Recently, as a member of Trump’s inner circle, Elon Musk has begun to aggressively collaborate with the incoming government on its approach to artificial intelligence (AI) and technology in general. This is occurring now that Donald Trump has been elected president.
It is stated in Trump’s campaign platform that he intends to repeal the executive order that President Joe Biden issued regarding artificial intelligence. The executive order is said to “hinder AI Innovation” and “impose radical leftwing ideas on the development of this technology.” Trump’s campaign platform also states that “in its place, Republicans support AI Development rooted in Free Speech and Human Flourishing.”
Source: CNBC news
