NEW YORK - According to a new regulatory filing, Elon Musk's artificial intelligence company X.Ai seeks to raise $1 billion.
The firm has already secured $135 million in investments, with the minimum entry for external investors set at $2 million. This fundraising effort aligns with X.Ai's aggressive recruitment drive as the company is actively seeking to fill various positions, including engineers and an "AI tutor."
The latest financial move by X.Ai underscores the company's ambition to scale up its operations and enhance its AI capabilities. The funding and hiring push come on the heels of the introduction of Grok, an AI chatbot developed by X.Ai with a distinct personality inspired by the cult classic "The Hitchhiker’s Guide to the Galaxy." Grok's launch represents a strategic step for X.Ai as it navigates the expanding landscape of conversational AI.
X.Ai's broader strategy involves leveraging synergies with established platforms like X (Twitter) and companies such as Tesla (NASDAQ:TSLA) to accelerate scientific advancements through artificial intelligence. By tapping into Musk's wider business ecosystem, X.Ai aims to foster innovation and potentially transform various sectors with cutting-edge AI technology.
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