Wed. Jun 19th, 2024

Elon Musk speaks onstage throughout The New York Instances Dealbook Summit 2023 at Jazz at Lincoln Heart on November 29, 2023 in New York Metropolis. 

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X.AI, a man-made intelligence startup based by Elon Musk, has filed with the SEC to boost as much as $1 billion in an fairness providing.

The corporate has already introduced in practically $135 million from 4 traders, with the primary sale occurring on Nov. 29, and has a “binding and enforceable settlement” for the acquisition of the remaining shares, the submitting says.

The AI startup, which Musk introduced in July, seeks to “perceive the true nature of the universe,” in accordance with its web site. Final month, X.AI launched a chatbot referred to as Grok, which the corporate says is modeled after “The Hitchhiker’s Information to the Galaxy.” The chatbot debuted with two months of coaching and has real-time information of the web, the corporate claims.

“Grok is designed to reply questions with a little bit of wit and has a rebellious streak, so please do not use it in the event you hate humor!” X.AI wrote on its web site, including, “It’s going to additionally reply spicy questions which are rejected by most different AI methods.”

The corporate did not instantly reply to a request for remark.

With Grok, X.AI goals to straight compete with firms together with ChatGPT creator OpenAI, which Musk helped begin earlier than a battle with co-founder Sam Altman led him to depart the challenge in 2018. It’s going to even be vying with Google’s Bard expertise and Anthropic’s Claude chatbot.

Earlier this yr, Musk reportedly secured hundreds of high-powered graphics processing models (GPUs) from Nvidia, the sort of chips vital to construct a big language mannequin.

X.AI is one in all many firms owned or led by Musk. Along with his management of X, beforehand Twitter, which he bought final yr, Musk is CEO of Tesla and SpaceX. He additionally operates underground tunnel developer Boring Firm and brain-tech startup Neuralink.

Final month, Musk stated traders in X (previously Twitter) would personal 25% of X.AI.

“We’re a separate firm from X Corp, however will work intently with X (Twitter), Tesla, and different firms to make progress in direction of our mission,” X.AI says on its web site.

Folks engaged on X.AI embrace alumni of DeepMind, OpenAI, Google Analysis, Microsoft Analysis, Twitter and Tesla. They’ve labored on tasks together with DeepMind’s AlphaCode and OpenAI’s GPT-3.5 and GPT-4 chatbots, in accordance with LinkedIn profiles.

Musk included X.AI in Nevada in March, in accordance with filings.

On a Tesla earnings name in July, here is what Musk informed analysts questioning about whether or not X.AI might compete with any of Tesla’s enterprise:

“There have been simply among the world’s greatest AI engineers and scientists that have been keen to hitch a startup however they weren’t keen to hitch a big, form of comparatively established firm like Tesla,” he stated. “So I used to be like, OK nicely, higher it is a startup that I run than they go work some place else. That is sort of the genesis of X.AI.”

For X.AI’s financing, the date of the preliminary sale coincided with Musk’s look on the 2023 DealBook Summit, the place he informed advertisers who had suspended campaigns on X to “go f*** your self.” Dozens of advertisers had stopped spending on X after Musk posted and amplified antisemitic feedback.

— CNBC’s Lora Kolodny contributed to this report

WATCH: Elon Musk’s X.AI launches ‘Grok’

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