HomeTechnologyAIxAI - OpenAI: Elon Musk's AI Company, xAI, is Having Difficulty Raising...

xAI – OpenAI: Elon Musk’s AI Company, xAI, is Having Difficulty Raising Funds to Compete With OpenAI.

xAI – OpenAI: Elon Musk’s AI company, X.AI Corp., is trying to raise $3 billion to $4 billion. This deal would value the company at $18 billion. According to Bloomberg, the company has sent these details to investors.

A presentation of about 20 pages has been shared with Silicon Valley venture capitalists. Even people who are close to Elon Musk are checking with their contacts to see if anyone is interested in the deal.

The details of how the funding round will work, including terms and dollar values, are not fully known yet and might change. Some information was reported by The Wall Street Journal earlier.

xAI - OpenAI

The presentation for investors highlights the positive aspects of the deal. It mentions Elon Musk’s successful history with Tesla and SpaceX. The presentation also suggests that xAI can use high-quality data from Musk’s social network, X, for training purposes.

Access to data is very important for creating AI chatbots using large language models. This could be good for the company because xAI can use data from Elon Musk’s social network, X.

This is important because xAI wants to compete with other companies that have strong financial support, like OpenAI, which is backed by Microsoft.

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