xAI is reportedly planning to finalise a $15 billion funding round which would end in December. This funding could potentially lead to a $230 billion pre-money valuation for the company.
CNBC reported the deadline for the funding raise was 25 November with a closing date of 19 December. The news agency stated xAI will use a large chunk of it for GPUs to power its large language models.
CNBC reported in November xAI was seeking to raise $15 billion, which Musk stated on X was false.
In July, xAI apologised after its Grok chatbot reportedly made a series of extreme comments which it blamed on deprecated code. In March, Musk’s xAI acquired his social media platform X in a $45 billion all-stock transaction.
Companies such as Amazon, Meta Platforms, Microsoft, Anthropic and OpenAI have raised billions of dollars to build out their AI infrastructure and add more compute capabilities.
Source: Mobile World Live
Image Credit: xAI