Billionaire Elon Musk, who has time and again warned about the potential dangers of AI technology and how it threatens humanity, is now seeking to raise a billion dollars for his artificial intelligence startup, xAI, with which he is hoping to compete with Open AI’s ChatGPT.
In the US Securities and Exchange Commission’s official filing on Tuesday, it was revealed that Musk’s company had gathered $134.7 million earlier this year and plans to raise around $1 billion overall. It added that there was a firm agreement for increasing the full funds required to meet the target, which indicated that Musk may have finalised some major deals, amounting to billions.
Billionaire Elon Musk, who has time and again warned about the potential dangers of AI technology and how it threatens humanity, is now seeking to raise a billion dollars for his artificial intelligence startup, xAI, with which he is hoping to compete with Open AI’s ChatGPT.
In the US Securities and Exchange Commission’s official filing on Tuesday, it was revealed that Musk’s company had gathered $134.7 million earlier this year and plans to raise around $1 billion overall. It added that there was a firm agreement for increasing the full funds required to meet the target, which indicated that Musk may have finalised some major deals, amounting to billions.
Last month, Musk offered a preview of his company’s chatbot called “Grok,” which is similar to ChatGPT and which he stated has been trained based on data collected from X, which was bought by Musk a year ago for $44 billion. The founder of Tesla and one of the most famous wealthy entrepreneurs started xAI in July and engaged researchers from Google DeepMind, OpenAI, the University of Toronto, and Tesla.
Musk said that the company was missioned to “understand the true nature of the universe.”.
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