Elon Musk’s AI startup xAI is in talks with traders for a funding spherical that might worth the corporate at round $40 billion, the Wall Avenue Journal reported on Tuesday, citing folks acquainted with the matter.
xAI hopes to lift a number of billion {dollars} within the new funding spherical, WSJ mentioned, including that the money raised could be added to the $40 billion valuation.
The funding discussions are within the early levels, which implies that phrases might change or the talks might disintegrate, the report mentioned.
Elon Musk didn’t instantly reply to a Reuters request for remark.
The startup raised $6 billion in collection B funding in Might, reaching a post-money valuation of $24 billion, backed by traders that included Andreessen Horowitz and Sequoia Capital.
Elon Musk, the billionaire entrepreneur, launched xAI in July 2023 as an alternative choice to OpenAI’s ChatGPT.
In March, xAI mentioned it will open-source its ChatGPT challenger “Grok”, giving the general public free entry to experiment with the code behind the expertise, aligning xAI with corporations comparable to Meta and France’s Mistral, which even have open-source AI fashions.
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