From PYMNTS.com:
Elon Musk is dismissing reports that his AI company has raised $500 million.
“This is simply not accurate,” Musk wrote on his social media platform X Friday (Jan. 19), following a Bloomberg News story saying that his artificial intelligence (AI) startup was halfway to its goal of $1 billion in funding.
Musk also deemed the report, which said xAI was discussing a valuation of $15 billion to $20 billion, “fake news.”
The billionaire Tesla CEO announced the launch of xAI in June, saying it would bring together a collection of AI industry veterans and endeavor to “understand reality.”
The company debuted its AI chatbot Grok in November, saying the tool has capabilities that rival Meta’s LLaMA 2 AI model and can handle math problems and reasoning at a level approaching that of OpenAI’s GPT-3.5....
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