Elon Musk Contradicts Reports His AI Startup Seeking $1B In Equity Funding: 'Nothing Is Being Sought From Anyone'
Portfolio Pulse from Ananya Gairola
Elon Musk's AI venture, xAI, is seeking to raise $1 billion in equity funding and has already secured nearly $135 million from four investors. The company, which launched a chatbot named Grok, aims to compete with other AI firms. Musk, who also owns X (formerly Twitter), announced that equity investors in X will have a 25% stake in xAI. Microsoft Corporation (NASDAQ:MSFT) has invested approximately $13 billion in OpenAI, a company Musk co-founded and left. Musk has criticized OpenAI and called for a pause in training powerful AI models.
December 06, 2023 | 3:40 am
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Microsoft Corporation has invested approximately $13 billion in OpenAI, which was co-founded by Elon Musk. Musk has criticized OpenAI and its association with Microsoft, but MSFT is not directly involved in the xAI funding.
While the article mentions Microsoft's investment in OpenAI, the news about xAI's funding does not directly impact Microsoft's financials or operations. However, Musk's criticism of OpenAI and its relationship with Microsoft could have a minor reputational impact, but it is unlikely to affect MSFT's stock price in the short term.
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