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Elon Musk‘s artificial intelligence company, xAI, is expected to complete a funding round in June, potentially valuing it at more than $24 billion, Bloomberg reports. The company aimed to finalize a $6 billion financing earlier this month, but the completion of this deal, which started last year, has yet to occur. The xAI funding round includes contributions from investors like Andreessen Horowitz and Sequoia Capital, as mentioned in a recent company blog post. According to a statement from Musk on X, the company’s valuation before this round was $18 billion. Apologies for my typo, pre-money was $18B — Elon Musk (@elonmusk) May 27, 20...... Read Full article on HadNews

Elon Musk is suing OpenAI, its CEO Sam Altman, as well as others, accusing them of violating contractual commitments established during the company’s inception in 2015, when he helped to found the company in 2015. The legal action initiated by the Tesla CEO also includes OpenAI’s co-founder Greg Brockman. The suit states that Brockman, alongside Altman, initially engaged Musk with the proposition of creating an open-source, nonprofit entity aimed at advancing artificial intelligence technology for the “benefit of humanity.” Musk co-founded OpenAI in 2015 but stepped down from the company’s board in 2018. The lawsuit contends that the M...... Read Full article on HadNews