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Elon Musk’s new AI startup, X.AI, helms an SEC filing aiming to secure $1 billion via an equity offering. The artificial intelligence startup, spearheaded by Musk, seeks substantial capital for its strategic growth and innovative initiatives, highlighting its ambitions in the burgeoning AI landscape under Musk’s leadership.
Four investors have injected around $135 million into Elon Musk’s new AI startup. The initial sale happened on Nov. 29, and a firm commitment exists to acquire the rest of the shares, as detailed in the filing. This strong investor interest demonstrates significant financial backing for the venture.
What is Elon Musk’s New AI startup X.AI?
Elon Musk started a new company called xAI. He wants it to learn about how the universe really works.
Elon Musk’s new AI startup, X.AI, launched a chatbot named Grok, inspired by “The Hitchhiker’s Guide to the Galaxy.” Grok trained for two months and taps into real-time internet knowledge, as claimed by the company. It’s designed to provide instant, helpful information, akin to a guide, drawing inspiration from a famous book to offer valuable insights and assistance. Grok is the first tech from Elon Musk’s x.AI. It’s a big step for his new AI company, exploring the mysteries of the universe.
Meet Grok: The First AI Chatbot by X.AI
Elon Musk’s new AI startup, X.AI, made a fun chatbot named Grok. They say Grok’s a bit cheeky and loves jokes, so if you dislike humor, maybe don’t chat with it! On their website, they mentioned that Grok isn’t shy; it’ll tackle questions others might avoid. They called it a rebel with a sense of humor, ready to answer even the trickiest or spicy queries that most AI avoids. So, if you’re up for a lively chat and witty banter, Grok might be your go-to AI!
Elon Musk’s new AI startup, Grok, plans to rival companies like OpenAI, where Musk was involved until a conflict in 2018. Grok aims to directly compete with OpenAI, Google’s Bard technology, and Anthropic’s Claude chatbot. Musk left OpenAI due to a disagreement with co-founder Sam Altman. Now, with Grok, he’s entering the AI field again, aiming to make a mark alongside other leading AI technologies, positioning Grok as a contender in this competitive landscape.
Earlier this year, Elon Musk got many super-strong computer chips called GPUs from Nvidia for his new AI startup. These chips are important to create big language models, like the one Elon’s startup aims to build.
Elon Musk’s Vast Tech Empire
Elon Musk’s new AI startup, X.AI, is part of his many ventures. Aside from X, Musk oversees or owns various other companies. He’s the CEO of Tesla and SpaceX, leading innovative projects in electric cars and space exploration. Last year, he acquired Twitter, marking his involvement in social media. Additionally, Musk operates the Boring Company, focused on creating underground tunnels for efficient transportation, and Neuralink, a startup exploring brain technology. With a wide range of ventures, Musk’s influence spans across industries, showcasing his commitment to pioneering advancements in AI and other groundbreaking technologies.
In the previous month, Musk announced that shareholders of X (previously known as Twitter) would possess a 25% stake in X.AI.
On its website, X.AI states that it is an independent company distinct from X Corp. However, it emphasizes its close collaboration with X (Twitter), Tesla, and various other companies to advance towards its mission.
People at Elon Musk’s new AI startup, X.AI, previously worked at big companies like DeepMind, OpenAI, Google, Microsoft, Twitter, and Tesla. They’ve been part of projects like DeepMind’s AlphaCode and OpenAI’s GPT-3.5 and GPT-4 chatbots, as seen on their LinkedIn profiles. These individuals bring experience from well-known tech companies and have contributed to significant AI advancements. At X.AI, their collective expertise from these renowned firms hints at promising developments in AI technology under Elon Musk’s leadership.
According to official filings, X.AI was incorporated by Musk in Nevada in March.
During a Tesla earnings call in July, Musk addressed analysts’ concerns regarding the potential competition between X.AI and Tesla’s business.
He mentioned that only a few of the most skilled AI engineers and scientists in the world were open to joining a startup, but they were not interested in joining a well-established company like Tesla. Therefore, he thought it would be preferable for him to lead a startup rather than letting them work elsewhere. This is essentially how X.AI came into existence.
X.AI’s funding round coincided with Musk’s presence at the 2023 DealBook Summit, during which he expressed his dissatisfaction with advertisers who had halted their campaigns on X by using profanity. Numerous advertisers had ceased their spending on X following Musk’s dissemination of antisemitic remarks.
Related Article: How to Use Grok AI: A Step-by-Step Guide to Access Grok
