Elon Musk’s AI Startup is Worth More Than $24 Billion

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The company xAI, with which Elon Musk wants to compete with the popular ChatGPT, will be worth more than 24 billion dollars, Bloomberg news agency reports, based on anonymous sources.

 

According to the sources, Musk has almost completed the financing. 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. In January, Bloomberg reported that he hoped to raise $1 billion for the company.

According to Bloomberg, Silicon Valley investors have high hopes for xAI, especially because of Musk’s previous successes with Tesla and 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.

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