{"id":188163,"date":"2024-04-26T14:28:51","date_gmt":"2024-04-26T19:28:51","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2024\/04\/xai-elon-musks-openai-rival-is-closing-on-6b-in-funding-and-x-his-social-network-is-already-one-of-its-shareholders"},"modified":"2024-04-26T14:28:51","modified_gmt":"2024-04-26T19:28:51","slug":"xai-elon-musks-openai-rival-is-closing-on-6b-in-funding-and-x-his-social-network-is-already-one-of-its-shareholders","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2024\/04\/xai-elon-musks-openai-rival-is-closing-on-6b-in-funding-and-x-his-social-network-is-already-one-of-its-shareholders","title":{"rendered":"XAI, Elon Musk\u2019s OpenAI rival, is closing on $6B in funding and X, his social network, is already one of its shareholders"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/xai-elon-musks-openai-rival-is-closing-on-6b-in-funding-and-x-his-social-network-is-already-one-of-its-shareholders2.jpg\"><\/a><\/p>\n<p><a href=\"https:\/\/x.ai\/blog\" target=\"_blank\" rel=\"noopener\">xAI<\/a>, Elon Musk\u2019s 10-month-old competitor to the AI phenom OpenAI, is raising $6 billion on a pre-money valuation of $18 billion, according to one trusted source close to the deal. The deal \u2014 which would give investors one quarter of the company \u2014 is expected to close in the next few weeks unless the terms of the deal change.<\/p>\n<p>The deal terms have changed once already. As of last weekend, Jared Birchall, who heads Musk\u2019s family office, was telling prospective investors that xAI was raising $3 billion at a $15 billion pre-money valuation. Given the number of investors clamoring to get into the deal, those numbers were quickly adjusted.<\/p>\n<p>Says our source, \u201cWe all received an email that basically said, \u2018It\u2019s now $6B on $18B, and don\u2019t complain because a lot of other people want in.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>xAI, Elon Musk\u2019s 10-month-old competitor to the AI phenom OpenAI, is raising $6 billion on a pre-money valuation of $18 billion, according to one trusted source close to the deal. The deal \u2014 which would give investors one quarter of the company \u2014 is expected to close in the next few weeks unless the terms [\u2026]<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2019,6],"tags":[],"class_list":["post-188163","post","type-post","status-publish","format-standard","hentry","category-elon-musk","category-robotics-ai"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/188163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=188163"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/188163\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=188163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=188163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=188163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}