Musk Denies Reports of xAI Securing $500M in Funding

AI startup xAI, founded by Elon Musk, is reportedly halfway to its $1 billion funding goal, a claim Musk has refuted on his social media platform.

Elon Musk's AI venture, xAI, has reportedly secured $500 million in funding, halfway to its $1 billion goal, according to multiple sources.
However, Musk has denied these reports, calling them 'fake news' on his social media platform X.
xAI is also reportedly discussing a valuation of $15 billion to $20 billion, though terms could still change in the coming weeks.
xAI, launched by Musk last year as an alternative to OpenAI, has developed a chatbot named Grok, which uses social media posts from X for its responses.
Some investors are considering the possibility of obtaining computing power in addition to, or in some cases instead of, xAI equity shares.