Elon Musk's startup xAI in talks with investors to raise $3 billion
By MYBRANDBOOK
There are discussions going on between investors closely linked to Elon Musk and xAI, his artificial intelligence startup, aimed at raising a significant $3 billion investment. This potential funding round could skyrocket the valuation of xAI to a staggering $18 billion. While the terms of this fundraising initiative have yet to be finalised, and the plans are subject to potential alterations, recent discussions have reportedly gained considerable momentum.
Among those contemplating backing this endeavour are the renowned venture capital firm Gigafund and Steve Jurvetson. A source even hints at the involvement of a co-founder from another venture firm, although the specific identity of both the individual and the firm remains undisclosed.
This move by Musk comes as a strategic decision to offer a formidable alternative to industry giants like Microsoft-backed OpenAI and Alphabet's Google. xAI was inaugurated by Musk last year with the aim of pushing the boundaries of artificial intelligence.
On the contrary, earlier this year, Musk however stated that xAI was not engaged in discussions with investors regarding funding, refuting media speculations about the startup potentially securing up to $6 billion in investment.
These conflicting reports have sparked ongoing interest and speculation in the technology and investment communities.
In another development, March saw the unveiling of an upgraded version of xAI's chatbot, Grok, now known as Grok-1.5, posing a significant challenge to OpenAI's ChatGPT. The chatbot has been made accessible to select users of X.
BREAKING NEWS
TECHNO TRENDS
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
E-Magazine
TECHNOTAINMENT
Airtel Xstream Play strengthens regional content library, part
Bharti Airtel (“Airtel”), one of India’s leading telecommunications
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
MOVERS & SHAKERS
Clover Infotech appointed Subham Banerjee as CDO
Clover Infotech has announced the appointment of Subham Banerjee as its Ch
Saviynt ropes in Sanjeevi Kumar as new Sales Director in India
The cloud-native identity and governance platform solutions provider Saviy
OPEN YOUR EYES
INTERVIEWS
Fortinet leading the charge towards networking and security co
Fortinet offers a wide range of technologies, including next-generation fir
HPE’s transformation into an edge-to-cloud company is its un
Hewlett Packard Enterprise (HPE) is driving towards one customer experience
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
HP INDIA SALES PVT. LTD.
FRESHWORKS TECHNOLOGIES PVT. LTD.
EXIDE INDUSTRIES LTD.
LENOVO INDIA PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : GAUTAM ADANI CHAIRMAN ADANI GROUP
Gautam Adani is the Founder and Chairman of the Adani Group, which ran...
ICONS OF INDIA : RAMESH NATRAJAN
Ramesh Natarajan, CEO of Redington Limited, on overcoming ‘technolog...
Icons Of India : Arjun Malhotra
Arjun Malhotra, the Chairman of Magic Software Inc., is widely recogni...
PARTNER SPEAKERS
PSU
C-DOT - Center of Development of Telematics
India’s premier research and development center focused on telecommu...
LIC - Life Insurance Corporation of India
LIC is the largest state-owned life insurance company in India...
PFC - Power Finance Corporation Ltd
PFC is a leading financial institution in India specializing in power ...
VIDEOS
Top 25 Brands
Value-Added Distribution
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...
Indian Tech Talent Excelling The Tech World - Lal Karsanbhai, President & CEO, Emerson
Lal Karsanbhai, President and CEO of Emerson, assumed the leadership i...
Indian Tech Talent Excelling The Tech World - NIKESH ARORA, Chairman CEO - Palo Alto Networks
Nikesh Arora, the Chairman and CEO of Palo Alto Networks, is steering ...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
