The artificial intelligence start-up of Elon Musk, Xai, is in negotiations to collect new funding that could evaluate it up to $ 120 billion, compared to $ 80 billion just over a month ago, two people with knowledge of the discussions have said.
The interviews are in the early stages and the evaluation of XAI could climb or decrease while the progress talks, he said that the people, who spoke on condition of anonymity. Investors discussed that they have put $ 20 billion in the company, even if that figure could also change.
The talks follow a great effort to fund fundraising by Openai, the San Francisco start-up that makes Chatgpt, who in March said he had closed a financing round that evaluated him at $ 300 billion. Openi launched the boom at the end of 2022 with the release of chatgpt, triggering a wave of financing for other artificial intelligence companies, including XAI.
Now Xai is intertwined with X, Mr. Musk's social media company. In March, he said he sold X to XAI. The All-Stock agreement evaluated Xai at $ 80 billion Exa $ 33 billion, said Musk. The previous assessment of XAI, from a fund funding round of December, was approximately $ 40 billion.
Grok, the chatbot made by XAI, is formed on the data published by X users and is available on X. Bankers for X told investors this year that some revenues of the social media company came from XAI.
The enthusiasm among investors for artificial intelligence companies cooled at the end of last year, since several high-profile start-ups have been essentially folded in technological giants such as Google and Amazon. But Xai and Openai are among the few who continue to look for billions of funding to build the main artificial intelligence technologies.
Mr. Musk did not respond to a request for comment on XAI. The details of the interviews were previously reported by Bloomberg.
(The New York Times sued Openi and its partner, Microsoft, for violation of the copyright of news related to artificial intelligence systems).)
Musk helped found Openii in 2015, together with the entrepreneur Sam Altman and others. He separated with the organization about two years later, after a dispute on his direction. At the time, Openi was structured as a non -profit organization.
After Mr. Musk left Openai, Altman transformed him into a profit operation so that he could increase the huge quantities of money necessary to build artificial intelligence technologies. These technologies learn the skills by analyzing enormous quantities of digital data, which may require hundreds of millions of dollars in calculation power.
After the release of Chatgpt in 2022, Mr. Musk created Xai to build similar technologies. More or less in the same period, Musk caused Openai, claiming that Openai and two of its founders, Altman and Greg Brockman, violated the founding contract of the company by putting commercial interests in front of the public good. Mr. Musk dropped the case months later, before reviving it in Federal Court in August.