xAI Stock

x.aiEnterprise Software / Data IntelligenceFounded: 2023

xAI, founded by Elon Musk in 2023, is an artificial intelligence company working on building artificial intelligence to accelerate human scientific discovery and the developer of a generative AI chatbot called Grok. Grok pulls from real-time data available online and adds humor in responses to user questions. xAI's stated goal is "to understand the true nature of the universe." xAI is headquartered in San Francisco, California.

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Team

Management Team

Elon Musk
Founder & Board Member
Dan Hendrycks
Advisor
Elon Musk
Founder

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News Highlights

Explainable Artificial Intelligence (xAI)
Explainable Artificial Intelligence (xAI) refers to a set of techniques and methods that enable human users to understand and trust the results and output generated by machine learning algorithms. The primary goal of xAI is to make AI systems more transparent, interpretable, and accountable, addressing the “black box” problem where even the AI’s designers cannot explain why it arrived at a specific decision[1]. By providing clear explanations of the reasoning behind AI decisions, xAI aims to enhance the effectiveness of AI-based decision-making while addressing concerns around fairness, accountability, and trust[8].
Elon Musk’s AI Startup—xAI—Files to Raise $1B in Fresh Capital
The AI startup Elon Musk founded to compete with generative AI chatbots like ChatGPT has filed with the SEC for a $1 billion equity offering. xAI had success in 2023 securing investors with four entities providing almost $135 million in funding. xAI acquired a high quantity of GPUs from chip maker Nvidia in April 2023 for the Grok chatbot, and the company is in search of fresh cash flow to continue the development of its Grok chatbot.
Elon Musk's X.ai aims to raise $1 billion
X.ai, Elon Musk's new artificial intelligence company, appears to have raised at least $134.7 million out of a $1 billion target, per a new SEC filing. Why it matters: Musk announced the endeavor earlier this year as a response to OpenAI, which he co-founded in 2015 but whose board he left in 2018. Flashback: Musk hasn't said much about how his AI company would be financed, other than a brief post on Nov. 19 that current shareholders in X (formerly Twitter) would get 25% of X.ai.
Updated on: Feb 27, 2024

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