Investment boom: Musk's AI startup ambitiously raises $1 billion

Elon Musk's artificial intelligence startup, xAI, has taken a step toward active investment attraction by applying to raise up to $1 billion through a share issue, Reuters reports.

According to documents filed with the U.S. Securities and Exchange Commission, the company has already successfully raised $134.7 billion in equity capital.

Reuters points out that this fundraising in the field of artificial intelligence is becoming a popular trend after the successful launch of ChatGPT by OpenAI, which raised $10 billion from Microsoft.

Businessman Elon Musk announced the creation of xAI in May of this year to study artificial intelligence and "understand the true nature of the universe."

Musk himself, who was one of the first investors and co-chairman of the board in OpenAI, left the company, linking his exit to his work at Tesla on automated driving systems. In other words, he had to focus on Tesla's engineering tasks and had some differences of opinion with OpenAI's management.

Even before the xAI announcement, Musk announced the creation of an analog of ChatGPT, pointing out that OpenAI has a liberal bias. In November, he unveiled an artificial intelligence chatbot called Grok, which he claimed could outperform GPT-3.5 in academic math and programming tests. Grok was made available to X Premium Plus subscribers.