Elon Musk speaks onstage throughout The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center on November 29, 2023 in New York City.
Slaven Vlasic | Getty Images
X.AI, a man-made intelligence startup based by Elon Musk, has filed with the SEC to lift as much as $1 billion in an fairness providing.
The firm has already introduced in almost $135 million from 4 buyers, with the primary sale occurring on Nov. 29, and has a “binding and enforceable agreement” for the acquisition of the remaining shares, the submitting says.
The AI startup, which Musk introduced in July, seeks to “understand the true nature of the universe,” in keeping with its web site. Last month, X.AI launched a chatbot referred to as Grok, which the corporate says is modeled after “The Hitchhiker’s Guide 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 answer questions with a bit of wit and has a rebellious streak, so please don’t use it if you hate humor!” X.AI wrote on its web site, including, “It will also answer spicy questions that are rejected by most other AI systems.”
The firm did not instantly reply to a request for remark.
With Grok, X.AI goals to immediately compete with corporations 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 may even be vying with Google’s Bard expertise and Anthropic’s Claude chatbot.
Earlier this 12 months, Musk reportedly secured 1000’s of high-powered graphics processing items (GPUs) from Nvidia, the form of chips essential to construct a big language mannequin.
X.AI is one in every of many corporations owned or led by Musk. In addition to his management of X, beforehand Twitter, which he bought final 12 months, Musk is CEO of Tesla and SpaceX. He additionally operates underground tunnel developer Boring Company and brain-tech startup Neuralink.
Last month, Musk stated buyers in X (previously Twitter) would own 25% of X.AI.
“We are a separate company from X Corp, but will work closely with X (Twitter), Tesla, and other companies to make progress towards our mission,” X.AI says on its web site.
People engaged on X.AI embody alumni of DeepMind, OpenAI, Google Research, Microsoft Research, Twitter and Tesla. They’ve labored on initiatives together with DeepMind’s AlphaCode and OpenAI’s GPT-3.5 and GPT-4 chatbots, in keeping with LinkedIn profiles.
Musk integrated X.AI in Nevada in March, in keeping with filings.
On a Tesla earnings name in July, this is what Musk informed analysts questioning about whether or not X.AI might compete with any of Tesla’s enterprise:
“There were just some of the world’s best AI engineers and scientists that were willing to join a startup but they were not willing to join a large, sort of relatively established company like Tesla,” he stated. “So I was like, OK well, better it’s a startup that I run than they go work somewhere else. That’s kind of the genesis of X.AI.”
— CNBC’s Lora Kolodny contributed to this report
WATCH: Elon Musk’s X.AI launches ‘Grok’
Source: www.cnbc.com”