STORY: Elon Musk’s artificial intelligence startup is set to raise $1 billion through an equity offering.
That’s according to a filing with U.S. regulators on Tuesday (December 5).
xAI launched in July this year with some pretty big goals - understanding the universe, no less.
Musk says it will be “maximally curious”, though he also continues to warn about the dangers posed by the technology:
"Well, I think we are seeing the most disruptive force in history here. You know, we will have for the first time something that is smarter than the smartest human.”
Fundraising for AI projects remains a bright spot for startups this year.
Among other deals, ChatGPT-maker OpenAI secured $10 billion from major backer Microsoft.
xAI last month launched its own chatbot - dubbed “Grok” - to rival ChatGPT and others.
Musk has criticised competing products from big tech firms like Google as being riddled with censorship.
His startup will be integrated into social network X, which he also owns, and available as a standalone app.
Related videos
The team behind it comes from Google’s DeepMind unit and other top tech names.