Buyers near Elon Musk are in talks to assist his artificial-intelligence startup xAI elevate $3 billion in a spherical that may worth the corporate at $18 billion, the Wall Road Journal reported on Friday.
Enterprise capital agency Gigafund and Steve Jurvetson are among the many backers contemplating investing within 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 be among the many backers. Nevertheless, it didn’t title the particular person or the agency.
Phrases of the xAI fundraising weren’t finalized and the plans may change, the Journal mentioned, including that present fundraising talks have gathered momentum lately.
xAI couldn’t be instantly reached for remark. Musk’s workplace didn’t reply to a Reuters request for remark.
In search of a substitute for 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 traders to safe funding, following a media report concerning the startup elevating as much as $6 billion.
The Monetary Instances in January reported xAI was in talks to lift funding at a valuation of $20 billion.
“xAI just isn’t elevating capital and I’ve had no conversations with anybody on 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 accessible to make use of by some customers of X, previously often called Twitter.
