Posted 4/6/2024, 7:02:00 PM
Elon Musk's AI Startup xAI Seeks $3 Billion, Valued at $18 Billion as AI Race Heats Up
- Elon Musk's AI startup xAI is looking to raise $3 billion from investors including his friends, valuing it at $18 billion
- xAI is racing against rivals OpenAI and Anthropic to develop advanced AI capabilities
- Investors in talks to back xAI include Steve Jurvetson, a friend of Musk's, and venture capital firm Gigafund
- There is intense competition between AI startups for talent, with massive compensation offers to lure engineers
- Musk claims an xAI engineer planned to defect to OpenAI before Musk convinced him to stay and boosted his pay