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Sana Javed faces awkward moment at PSL 2024, crowd chants for Sania Mirza

Feb 21, 2024, 03:00PM ISTSource: etimes.inPakistani actress Sana Javed found herself in an uncomfortable situation during a PSL match when crowds began chanting the...
HomeBusinessMusk denies his AI comp secures $500m toward $1bn funding goal

Musk denies his AI comp secures $500m toward $1bn funding goal

Elon Musk has said a

report

that his artificial intelligence (AI) company,

xAI

, has secured $500 million in commitments from investors toward a $1 billion goal is inaccurate.
“This is simply not accurate,” he said in a reply to a user post about the Bloomberg article on social media platform X.
The artificial intelligence (AI) startup xAI is discussing a valuation of $15 billion to $20 billion, though terms could still change in the coming weeks, Bloomberg reported, citing people familiar with the matter.

xAI could not immediately be reached for comment.

Musk and investors are expected to finalize terms in the next couple of weeks, and some parties are evaluating whether they can get computing power in addition to, or in some cases instead of, xAI equity shares, Bloomberg reported.
Last December, Musk said his artificial intelligence company was not raising funds, a day after the startup filed with the US securities regulator to raise up to $1 billion in an equity offering.

Musk launched xAI in July last year in response to Big Tech’s AI efforts, which he has criticized for excessive censorship and a lack of adequate safety measures.

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