Musk says xAI is not raising capital after CNBC report on $ 10 billion funding
Elon Musk on Friday said that xAI is not raising capital right now, following a CNBC report earlier in the day on the AI firm raising $10 billion at a post-money valuation of $200 billion.
“Fake news. xAI is not raising any capital right now,” Musk said on X.
According to the CNBC report, the funding was likely to go to building data centers using Nvidia and AMD graphics processing units, needed to develop next-generation AI, as well as to hire expensive talent.
