Elon Musk’s xAI reports $1.46 billion loss as startup rapidly expands operations — what we know

Billionaire Elon Musk’s xAI reported $1.46 billion net loss in the September quarter, compared to $1 billion in the previous one, Bloomberg reported citing internal documents from the artificial intelligence startup.

The company is burning cash quickly, with losses mounting as it spends to build data centers, recruit talent and develop software that will eventually power humanoid robots, according to internal documents.