The company xAI, with which Elon Musk wants to compete with the popular ChatGPT, is worth more than 24 billion dollars. Bloomberg news agency reports this based on anonymous sources.
Musk has almost completed the financing, according to the sources. Earlier this month he hoped to close another financing of about $6 billion, but that deal is still pending. Musk has significantly raised his financial targets for xAI in a short period of time. In January, Bloomberg reported that he hoped to raise $1 billion for the company.
Investors in Silicon Valley have high hopes for xAI, according to Bloomberg, especially because of Musk’s previous successes with Tesla and space company SpaceX. Musk also hinted that xAI and its chatbot Grok could use data from his social media platform X, formerly Twitter. Access to data is crucial for building large language models, the technology that powers AI chatbots.