AI
Musk’s xAI in talks for $4 billion equity funding: Report
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Elon Musk‘s artificial intelligence startup xAI is in talks to raise $4.3 billion through an equity investment on top of its $5 billion debt funding plans, Bloomberg News reported on Tuesday, citing information shared with investors.
Between its founding in 2023 and when the debt sale was launched this year, xAI raised $14 billion through equity fundraising, the report said.
Training and deploying advanced AI systems are exceedingly expensive, driven by costly hardware, intensive compute and the need for skilled employees in a fiercely competitive…
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