Elon Musk is looking to raise $1 billion for his artificial intelligence company xAI, and the man responsible for Tesla, X, and SpaceX is seeking this amount to finance his next project.
According to a Securities and Exchange Commission filing, Musk has so far raised about $135 million from four unnamed investors, with his first sale of securities on November 29.
This means that it still needs to raise about $865 million in order to achieve its $1 billion goal.
xAI is currently developing the AI chatbot Grok, which is Elon Musk’s answer to OpenAI’s ChatGPT, or Google’s Bard.
According to his website, Grok has a rebellious personality and answers interesting questions that other AI chatbots don’t handle.
The product has only been in development for two months, and should be released in beta soon for X Premium subscribers.
It is noteworthy that Elon Musk is one of the founders of the OpenAI organization, although he resigned in 2018 from the board of directors.