Elon Musk’s xAI company, which developed the Grok artificial intelligence robot and is valued in the market between 15,000 and 20,000 million dollars, received the consent of X investors for a financing of 500 million dollars, an amount that in the future will grow to $1 billion. .
Sources “familiar with the negotiations” shared this information with Bloomberg. “Conditions may still change in the coming weeks,” they stressed.
There were no official messages or documents about investments and Elon Musk writes in his account that the news is “false.”
According to anonymous sources, xAI’s investor mix will overlap with that of X, as Grok, the chatbot startup trained by
“In practice, this means that investors are encouraged to invest at least 25% of the amount they invested in X in xAI” (this interpretation also belongs to an anonymous source).
Investors who once supported Twitter’s acquisition include Sequoia Capital, Fidelity Management & Research Co. and many private investors, including a Saudi prince.
According to Bloomberg’s interlocutor, the final conditions will be agreed in the coming weeks, but for now potential investors are very interested in receiving “computing power” in addition to xAI shares.
“This would benefit portfolio companies of venture capital firms that need to process data intensively to create new AI products,” the agency writes.
Author:
Ekaterina Alipova
Source: RB
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