Elon Musk-led Startup X.AI gears up to close $24 billion worth Funding deal
X.AI, the Artificial intelligent startup of Elon Musk is lined to complete its funding round in the month of June which is expected to add value to the company at more than $24 billion comprising its recent influx of cash, official subjected to the deal said.
Also he stated, earlier this month, the company was lined up to complete a funding of $6 million approximately, but the final closing deal hasn’t done in the deal, which has been still in momentum from previous year. Of late, the startup has been looking nearly $6.5 billion funding & determining to reach nearer to the target over upcoming few weeks.
The strategic funding plans of xAI have intensively extended from the report released by Bloomberg in the month of January that the startup is looking to elevate $1 billion. Talks regarding this deal have been persisted, the official added.
Competing with OpenAI, the startup has been promoted to a wide range of Silicon Valley financial backers through a pitch deck that the track record of Elon Musk at Tesla & SpaceX.
The funding deal will give a Pre-money estimation of $18 billion for xAI, a record that doesn’t take in the raised dollars. Previously, The Financial Times posted few details of the deal.
During the remote interview at the conference of Viva Technology in Paris about the goal of xAI, Musk says, the “the goal is being as truth-seeking as possible”. Also he slated the other AI models designed by Alphabet Inc.’s OpenAI & Google as “pandering” to political correctness. He stated that another ambition for xAI is to “try to be the funniest AI.”
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