The startup of artificial intelligence Elon Musk XAI is a $ 4.3 billion through a new capital round and adds $ 5 billion fundraising to its recently launched efforts, reported Bloomberg News on Tuesday (June 17) and quoted information shared with investors.
Most of the $ 14 billion have already spent
According to the XAI report – the company for AI Chatbot Grok – is looking for fresh capital partly because it has increased most of the $ 14 billion since its foundation in 2023, which has received its own capital.
The internal documents reviewed by the outlet revealed that on March 31, only $ 4 billion remained on the company’s balance sheet.
Debt and effort obligations to reduce costs
Debt sales of $ 5 billion are due on Tuesday, reported a report with a source that is familiar with this matter. Debt financing is expected to provide XAI operational flexibility and at the same time potentially delay the dilution of existing shareholders.
In a separate step, XAI can also get $ 650 million from one of its hardware manufacturers, according to news sources. The discount is expected to alleviate part of the financial pressure from the company’s heavy infrastructure.
Overvoltage
At the end of the first quarter, XAI has $ 80 billion awards, out of $ 51 billion at the end of 2024, reflecting the increasing interest rate of the company’s AI plan and its integration with X (formerly Twitter), which Xai won at the beginning of this year, said.
Musk’s Xai is placed as an impressive challenge to Open and Google Deepmind in the high -competitive AI.
(Tagstotranslate) XAI
