Elon Musk's artificial intelligence startup X.AI Co., Ltd. is expected to close a funding round this week at a valuation of about $18 billion.
The exact size of the funding round has not yet been determined, Bloomberg reported.
The investment aims to raise $6 billion and is reportedly attracting interest from investors including: Sequoia Capital. Discussions are ongoing and there is room for adjustment in assessment and timing.
The pitch deck for X.AI Corp.'s funding round reportedly highlights Musk's successful track record. tesla company (NASDAQ:TSLA) and space xand the potential benefits of leveraging data from X For training purposes.
Ensuring high-quality data is considered crucial in the development of robust AI chatbots, and X.AI Corp. competes in this space with strong competitors such as: That's what I'm aiming for. OpenAI.
Competing in the field of AI chatbots, especially chatbots that utilize advanced language models, requires access to high-quality data.
Please also read: Elon Musk's Tesla sues Indian company for trademark infringement: Report
This update comes after a series of conflicting reports regarding xAI's funding.
In January, it was reported that the startup had secured $500 million in funding, a claim debunked by Musk.
In March, Musk created an xAI chatbot. Grok Industry experts predicted that this move would attract a lot of money to xAI.
Founded in 2023, xAI launched its AI bot Grok in November to use “AI tools for the greatest benefit to all humanity.” Grok is available on the X platform.
Microsoft Corporation (NASDAQ:MSFT) – xAI's main competitor, the OpenAI-backed company, is valued at $80 billion.
Disclaimer: This content is created in part using AI tools, and reviewed and published by Benzinga editors.
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