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CryptoIntelligence 2024-04-13 12:53:00

Elon Musk’s AI Startup xAI Seeks Up to $4 Billion in Funding, Aiming for $18 Billion Valuation

Elon Musk’s AI Startup xAI Seeks Up to $4 Billion in Funding, Aiming for $18 Billion Valuation

Tech entrepreneur Elon Musk is currently seeking to secure up to $4 billion in funding for his new artificial intelligence (AI) startup, xAI, which developed the AI chatbot known as Grok. To facilitate this, Musk is offering selected investors the opportunity to join funding rounds via special purpose vehicles (SPVs), as stated in a recent email circulated among potential contributors. SPVs are investment tools that allow various investors, including venture capital firms and individual investors, to pool resources into a single entity. Although this method provides an organized way to invest, it comes with initial fees of up to 5%

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