(Reuters) -Investors shut to Elon Musk are in talks to help his artificial-intelligence startup xAI raise $3 billion in a spherical that may worth the corporate at $18 billion, the Wall Avenue Journal reported on Friday.
Enterprise capital agency Gigafund, and Steve Jurvetson are among the many backers contemplating investing in the spherical, the report mentioned, citing folks aware of the matter.
The WSJ report additionally mentioned {that a} co-founder of one other enterprise agency can also be among the many backers. Nonetheless, it didn’t title the individual or the agency.
Phrases of the xAI fundraising weren’t finalized and the plans might change, the Journal mentioned, including that present fundraising talks have gathered momentum just lately.
xAI couldn’t be instantly reached for remark. Musk’s workplace didn’t reply to a Reuters request for remark.
In search of an alternate to Microsoft-backed OpenAI and Alphabet’s Google, Musk launched xAI final 12 months.
Earlier this 12 months, Musk mentioned xAI was not in talks with buyers to safe funding, following a media report concerning the startup elevating up to $6 billion.
The Monetary Occasions in January reported xAI was in talks to raise funding at a valuation of $20 billion.
“xAI is just not elevating capital and I’ve had no conversations with anybody in this regard,” Musk mentioned at the moment.
xAI in March launched an enhanced model of its chatbot Grok – named Grok-1.5, a chatbot rivaling OpenAI’s ChatGPT.
The chatbot is on the market to use by some customers of X, previously referred to as Twitter.
(Reporting by Mrinmay Dey in Bengaluru; Modifying by Maju Samuel)
Investors in talks to help Elon Musk’s xAI raise $3 billion, WSJ reports www.yahoo.com 2024-04-05 23:07:37
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