A filing with the US Securities and Exchange Commission (SEC) reveals that xAI has already raised $135 million from four investors.
In brief: Elon Musk might be the richest man in the world with a net worth of $244.3 billion, but he still wants to raise $1 billion for his artificial intelligence startup xAI as the generative AI market becomes increasingly packed and competitive. The minimum amount someone can invest is $2 million, though it sounds as if Musk has already secured the funding.
A filing with the US Securities and Exchange Commission (SEC) reveals that xAI has already raised $135 million from four investors.
The filing adds that the minimum amount xAI will accept from outside investors is $2 million. However, anyone wishing to invest in Musk’s company might find it’s too late; a section of the document notes that the issuer has entered into a « binding and enforceable agreement » for the purchase and sale of the remaining $865.
