Elon Musk denies funding talks for AI firm xAI

Elon Musk clarified that his artificial intelligence venture, xAI, is not engaged in discussions with investors to secure funding, countering earlier reports suggesting otherwise.

Source: ELON MUSK

Musk refuted claims of capital-raising activities, stating, "xAI is not raising capital and I have had no conversations with anyone in this regard."

Source: X Photo

The clarification comes in response to a media report which indicated that xAI was exploring fundraising opportunities with a target of up to $6 billion, valuing the startup at $20 billion.

Source: Republic

The AI landscape has witnessed escalating competition, with investors increasingly backing startups poised to leverage advancements in artificial intelligence.

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This is not the first time Musk has found himself addressing speculation surrounding xAI's financial endeavours.

Source: Bio.

Just last week, he refuted claims that the company had secured $500 million in commitments from investors towards a $1 billion funding target.

Source: Britannica