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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’s xAI has officially introduced its first-generation multimodal model that can understand documents, translate code, and process real-world situations. The tool, named Grok -1.5V, is said to have ‘strong text capabilities’ and will soon be available to early testers and existing Grok users. The update comes just a week after the open release of Grok-1 which concluded its pre-training phase in October 2023. “Grok-1.5 comes with improved reasoning capabilities and a context length of 128,000 tokens,” the company said in a blog post on the xAI website. This long context understanding is a new feature that will allow Grok to have...... Read Full article on HadNews

Elon Musk has indicated his artificial intelligence (AI) startup xAI will open-source Grok, its chatbot rival to OpenAI’s ChatGPT. The Tesla billionaire was once closely associated with OpenAI as a co-founder, but he walked away years ago to follow his own path in AI development, with a bitter fallout ensuing. Musk has taken legal action against his former company and its incumbent CEO, Sam Altman, for allegedly reneging on its original purpose to build AI for the benefit of humanity and not for the pursuit of profit. In December 2023, Grok was rolled out to premium subscribers on X, the social media platform formerly known as Twitter,...... Read Full article on HadNews

With several investors handing sizable checks to startups to profit from what has attracted Silicon Valley’s attention in the past year — the race to create more and better AI has been escalating. Today, the billionaire entrepreneur Elon Musk‘s “artificial intelligence start-up xAI is in talks to raise up to $6 billion.” The start-up is seeking money from wealthy holding funds in the Middle East and has held discussions with family offices in Hong Kong, according to a story opens new tab that cited several people with knowledge of the situation. For the newest fundraising effort, Musk has also reached out to investors in South Korea an...... Read Full article on HadNews