Priyanka Tiwari
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Suspense crime, Digital Desk : Elon Musk's artificial intelligence startup, xAI, is on the verge of closing a massive funding deal reportedly worth over $9 billion, demonstrating that investor appetite for AI remains sky-high, even in the face of high-profile political drama.
Reports indicate the company is set to raise as much as $9.3 billion (£7.3 billion) from venture capital firms. This figure surpasses earlier estimates of a $6 billion funding round, highlighting the intense and growing investor interest in securing a stake in Musk's answer to competitors like OpenAI and Google.
The impressive fundraising effort is unfolding against the backdrop of a public spat between Musk and former US President Donald Trump. The feud ignited when Trump, at a recent rally, belittled Musk's business record, making critical remarks about his ventures. Musk swiftly retaliated on his social media platform, X, suggesting Trump was too old to run for president and should "hang up his hat."
Despite this clash, the funding for xAI appears undeterred, signaling that investors are focused more on the long-term potential of AI and Musk's track record of innovation than on political squabbles.
Launched with the ambitious mission to "understand the true nature of the universe," xAI is developing its flagship product, a chatbot named "Grok." Designed to be more witty and rebellious than its counterparts, Grok is integrated with the real-time data from X, which Musk claims gives it a significant advantage over other large language models. This monumental funding will provide xAI with the necessary capital to compete fiercely in the global AI race.
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