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Elon Musk’s xAI raises $6B to bolster battle against OpenAI

TechCrunch on MSN · 2d

Elon Musk’s xAI lands $6B in new cash to fuel AI ambitions

Nevertheless, the deals — and xAI’s developer and consumer-facing products — have driven xAI’s revenue to around $100 million a year. For comparison, Anthropic is reportedly on pace to generate $1 billion in revenue this year, and OpenAI is targeting $4 billion by the end of 2024.

New York Post on MSN · 4d

Elon Musk’s xAI raises $6B to bolster battle against OpenAI: ‘Gonna need a bigger compute!’

Elon Musk’s artificial intelligence startup xAI revealed that it raised $6 billion in its latest funding round as the startup continues to ramp up in its battle against bitter rival OpenAI.

Business Insider on MSN · 5d

Meet the power players at Elon Musk's xAI, the startup taking on OpenAI with its Grok chatbot

Meet the key figures at Elon Musk's xAI, the $50 billion startup behind the chatbot Grok that's taking on ChatGPT.

Elon Musk's xAI raises $6 billion from Nvidia, AMD, and others

In total, 97 investors were involved in this round of funding, with the minimum investment per participant pegged at $77,593. Investors were only allowed to participate

The Indian Express · 3d

Elon Musk’s xAI raises $6 billion in new funding

A lot of compute is needed,” Mr. Musk said in a post about the financing, in which BlackRock, Fidelity and Sequoia participated.

OpenAI details plans to turn into a for-profit company

New York Post on MSN · 1d

OpenAI says it needs ‘more capital than we’d imagined’ as it details for-profit plan

OpenAI said it needs “more capital than we’d imagined” as the Sam Altman-led artificial intelligence pioneer outlined plans for revamping into a for-profit company.

TechCrunch · 1d

OpenAI lays out its for-profit transition plans

One of OpenAI’s co-founders, billionaire Elon Musk, has filed for an injunction to halt the company’s transition to a for-profit, accusing OpenAI of abandoning its original philanthropic mission. Musk has also alleged that OpenAI has deprived his own AI company, xAI, of capital by extracting promises from investors not to fund it.

Reuters on MSN · 1d

Explainer: Why OpenAI plans transition to public benefit corporation

OpenAI on Friday laid out a plan to transition its for-profit arm into a Delaware public benefit corporation (PBC) to help it raise capital and stay ahead in the costly AI race against companies such as Google.

1d

OpenAI reveals plan to convert to public benefit corporation

OpenAI announced plans to become a public benefit corporation and shed the control of its nonprofit board. Elon Musk and Meta ...

1d

Sam Altman's OpenAI Plans Major Revamp Of Corporate Structure

OpenAI plans to restructure into a for-profit company in 2025, highlighting the need for significant capital. This move has ...

Cryptopolitan on MSN1d

OpenAI admits it needs more cash for its for-profit vision

OpenAI is officially done pretending it can run like a charity. On Friday, the company announced it has finalized plans to ...

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