{"id":32248,"date":"2023-12-06T19:29:06","date_gmt":"2023-12-06T19:29:06","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/elon-musks-ai-firm-xai-files-to-raise-up-to-1b-the-express-tribune\/"},"modified":"2023-12-06T19:29:06","modified_gmt":"2023-12-06T19:29:06","slug":"elon-musks-ai-firm-xai-files-to-raise-up-to-1b-the-express-tribune","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/elon-musks-ai-firm-xai-files-to-raise-up-to-1b-the-express-tribune\/","title":{"rendered":"Elon Musk’s AI firm xAI files to raise up to $1b | The Express Tribune"},"content":{"rendered":"
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Elon Musk’s artificial intelligence startup xAI has filed with the US\u00a0securities regulator to raise up to $1 billion in an equity offering, according to a filing on Tuesday.<\/p>\n

The company has raised $134.7 million in equity financing from a total offering amount of $1 billion, the\u00a0filing<\/a>\u00a0with the Securities and Exchange Commission showed.<\/p>\n

Fundraising for AI remains a bright spot for startups this year, following OpenAI’s launch of popular chatbot ChatGPT last year and raising of $10 billion from its strategic backer Microsoft Corp. Regulators, however, are concerned about the potential use of the technology to spread misinformation.\u00a0<\/p>\n

Musk has been vocal about his\u00a0plans<\/a>\u00a0to build safer AI. In a Twitter Spaces event earlier in the year he said that rather than explicitly programming morality into its AI, xAI will seek to create a “maximally curious” AI.<\/p>\n

The billionaire, who has criticized Big Tech’s AI efforts as ridden with censorship, in July launched xAI, calling it a “maximum truth-seeking AI” to rival Google’s\u00a0(GOOGL.O)<\/a>\u00a0Bard and Microsoft’s Bing AI.<\/p>\n

In 2015, Musk co-founded OpenAI, the company behind ChatGPT, which has created a frenzy for generative AI technology around the world, but stepped down from the board in 2018.<\/p>\n

XAI last month\u00a0launched<\/a>\u00a0“Grok” a chatbot rivaling OpenAI’s ChatGPT.<\/p>\n

The artificial intelligence startup will be integrated into his social media platform X and also be available as a standalone app, Musk said in a post in November.<\/p>\n

The team behind xAI, which launched in July this year, comes from Google’s DeepMind, the Windows parent, and other top AI research firms.<\/p>\n<\/div>\n