Elon Musk’s startup xAI is trying to raise a $4.3 billion equity investment, according to a report from Bloomberg. This equity funding would be in addition to the $5 billion that Musk is allegedly trying to raise in debt funding for the combined entity of X and xAI.
The company appears to be raising money again after landing a $6 billion cash infusion in December, because it has already spent much of its money.
xAI makes Grok, the AI chatbot that’s embedded inside the social network X, as well as the image generator Aurora. The technology that powers these products is notoriously resource-intensive, which could be contributing to the rate at which the company is spending money.
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