Elon Musk's artificial intelligence start-up, Xai, is in conversation to increase new financing that could appreciate $ 120 billion, an increase of $ 80 billion just over a month ago, said two people with knowledge of the discussions.
The conversations are in the early stages, and the appreciation of Xai could rise or fall as the conversations progress, the people who talked about the state of anonymity said. Investors have discussed to place $ 20 billion in the company, although that figure can also change.
The conversations follow a great fundraising from OpenAi, the start-up of San Francisco that makes Chatgpt, who said in March that it had concluded a financing round that appreciated $ 300 billion. OpenAi launched the AI Boom at the end of 2022 with the release of Chatgpt, which set up a financing dump for other AI companies, including Xai.
Now Xai is intertwined with X, the social media company of Mr. Musk. In March he said he had sold X to Xai. The All-Stock Deal appreciated Xai to $ 80 billion and X for $ 33 billion, Mr Musk said. The previous appreciation of Xai, from a fundraising in December, was around $ 40 billion.
GROK, the chatbot made by Xai, is trained on data placed by X users and is available on X. Bankers for X this year told investors that some of the turnover of the social media company came from Xai.
Enthusiasm among investors for AI companies that cooled down at the end of last year, because various high-profile start-ups were essentially folded in technical giants such as Google and Amazon. But Xai and OpenAi are among the few who continue to look for billions for financing to build the leading AI technologies.
Mr. Musk did not respond to a request for comments about Xai. Details of the conversations were previously reported by Bloomberg.
(The New York Times has sued OpenAi and his partner, Microsoft, for infringing the copyright of news content with regard to AI systems.)
Mr. Musk helped OpenAi to find in 2015, together with the entrepreneur Sam Altman and others. He separated himself with the organization about two years later, after a dispute over the direction. At the time, OpenAi was structured as a non -profit organization.
After Mr. Musk OpenAi had abandoned, Mr Altman transformed it into a profit motive, so that it could increase the enormous amounts of money needed to build AI technologies. These technologies learn skills by analyzing enormous amounts of digital data that may require hundreds of millions of dollars in computing power.
After the release of Chatgpt in 2022, Mr. created. Musk Xai to build similar technology. Around the same time, Mr. Musk OpenAi continued and claimed that OpenAi and two of his founders, Mr Altman and Greg Brockman, violated the company's founding contract by making commercial interests for the public interest. Mr. Musk dropped the lawsuit months later before he revived it at the federal court in August.
