Connect with us

xAI

xAI aims at $113 billion valuation with $300 million share sale

Published

1 year ago

on

xAI brand logo

AI company xAI is planning to sell $300 million worth of shares to increase the valuation to $113 billion in order to become more dominant in the generative AI industry.

It’s reported that the deal will enable xAI staff to sell shares to new investors. The company is also expected to offer secondary stock options, followed by a larger investment round including equity to outside investors.

xAI Grok Vision

Source – xAI

In March, xAI announced the X (formerly Twitter) acquisition, combining its $80 billion with X’s $33 billion for a total $113 billion value.

xAI is mainly known for its Grok chatbot, which can conduct text-to-text, voice-to-voice, vision and many other types of interactions with the users.

Related Topics:

Mannoo specializes in Generative AI, Large Language Model (LLM), and Aerospace Science. Prior to delving into these fields, he was a Python programmer, a game designer, and an Android and iOS app developer with over 5 years of experience. He has prior writing experience in creative writing about smartphones and technology before working at Eonmsk.com. You can explore his X/TWitter and LinkedIn pages or contact him through his email.

Continue Reading