Elon Musk’s AI startup xAI seeks to raise USD 1 billion funding
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Elon Musk's artificial intelligence venture, xAI, has recently disclosed its intention to secure up to a billion dollars in funding, as indicated in a filing with the Securities and Exchange Commission, Fox Business reported.The filing on Tuesday by X.AI Corp (dba xAI) outlined a plan to raise USD 1 billion in an equity offering, with more than USD 134 million already successfully raised. The document revealed that the company had entered into a binding agreement for the sale and purchase of the remaining USD 865 million. Responding to a post by Gene Munster of Deepwater Asset Management on the financing, Elon Musk clarified on Wednesday, saying, "We are not raising money right now." Munster's post suggested that Musk's fundraising efforts were aimed at competing with OpenAI and ...