ELON MUSK’S AI STARTUP — X.AI — FILES TO RAISE $1 BILLION IN FRESH CAPITAL
X.AI has filed with the SEC to raise up to $1 billion in an equity offering. It has already raised nearly $135 million from four investors and has a binding and enforceable agreement for the purchase of the remaining shares. The startup released an AI chatbot with real-time knowledge of the internet called Grok last month. It aims to directly compete with companies like OpenAI, Google, and Anthropic.