Elon Musk: Musk denies report his AI company secures $500 million toward $1 billion funding goal
Elon Musk has said a report that his artificial intelligence (AI) company, xAI, has secured $500 million in commitments from investors toward a $1 billion goal is inaccurate.
![]()
“This is simply not accurate,” he said in a reply to a user post about the Bloomberg article on social media platform X.
The artificial intelligence (AI) startup xAI is discussing a valuation of $15 billion to $20 billion, though terms could still change in the coming weeks, Bloomberg reported, citing people familiar with the matter.
xAI could not be immediately be reached for comment.
Musk and investors are expected to finalize terms in the next couple of weeks, and some parties are evaluating whether they can get computing power in addition to, or in some cases instead of, xAI equity shares, Bloomberg reported.
Last December, Musk said his artificial intelligence company was not raising funds, a day after the startup filed with the U.S. securities regulator to raise up to $1 billion in an equity offering.
Discover the stories of your interest
Musk launched xAI in July last year in response to Big Tech’s AI efforts, which he has criticized for excessive censorship and a lack of adequate safety measures.
Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.
Elon Musk has said a report that his artificial intelligence (AI) company, xAI, has secured $500 million in commitments from investors toward a $1 billion goal is inaccurate.
![]()
“This is simply not accurate,” he said in a reply to a user post about the Bloomberg article on social media platform X.
The artificial intelligence (AI) startup xAI is discussing a valuation of $15 billion to $20 billion, though terms could still change in the coming weeks, Bloomberg reported, citing people familiar with the matter.
xAI could not be immediately be reached for comment.
Musk and investors are expected to finalize terms in the next couple of weeks, and some parties are evaluating whether they can get computing power in addition to, or in some cases instead of, xAI equity shares, Bloomberg reported.
Last December, Musk said his artificial intelligence company was not raising funds, a day after the startup filed with the U.S. securities regulator to raise up to $1 billion in an equity offering.
Discover the stories of your interest
Musk launched xAI in July last year in response to Big Tech’s AI efforts, which he has criticized for excessive censorship and a lack of adequate safety measures.
Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.
Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.