The AI company backed by Tesla CEO Elon Musk is on the verge of securing a massive funding round worth $9.3 billion, according to recent reports. The deal would involve both equity and debt investments, marking one of the largest funding rounds in the AI industry.
Musk’s venture capital firm, xAI, aims to accelerate the development of artificial intelligence technologies. The company has been actively working on various projects, including AI-powered robotics and machine learning models.
The exact terms of the deal have not been disclosed, but it is expected that the investment will be used to further develop xAI’s technology and expand its team.
As one of the most prominent AI investors, Musk has been a key player in shaping the industry’s future. The successful completion of this funding round would provide xAI with the necessary resources to continue pushing the boundaries of AI innovation.
Source: https://www.ft.com/content/3ddd2ece-15eb-4264-9dc7-2a2447833a23