Musk relaunches Artificial Intelligence: SpaceX invests $2 billion in xAI to challenge OpenAI. What's behind Elon Musk's move?
SpaceX , billionaire Elon Musk's company, has decided to invest $2 billion in his artificial intelligence company xAI . This investment is equivalent to about half of the capital raise xAI recently received.
The Wall Street Journal broke the news. The Tesla founder has so far mobilized his colossal financial fortune to develop the artificial intelligence startup, which is attempting to catch up with OpenAI. Earlier this year, we witnessed the surprising merger of xAI with X , uniting what was once a small scientific laboratory with a social media network that is helping to increase the reach of his Grok chatbot.
The merger valued the new company at $113 billion . The SpaceX investment is part of xAI's $5 billion capital raising, announced by Morgan Stanley last month. This is the rocket manufacturer's first public investment in xAI and one of its largest in an outside venture.
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