- xAI plans consumer chatbot app launch
- Potential $5B funding values company at $50B
- Musk attracts top investors to AI venture
Musk’s AI Venture Gears Up for Market Entry
xAI, Elon Musk’s artificial intelligence startup, is preparing to unleash its Grok chatbot directly onto consumer smartphones.
The Wall Street Journal reports the upcoming application will rival OpenAI’s ChatGPT, offering users seamless access to advanced conversational AI technology.
Investors Ride the xAI Valuation Rocket
The company’s potential consumer app coincides enthusiastically a potential $5 billion funding round, which could skyrocket xAI’s valuation to $50 billion — double its worth from six months ago.
Musk has strategically rewarded early Twitter acquisition investors by offering them 25% of xAI’s shares, attracting heavyweight backers like Fidelity, Oracle co-founder Larry Ellison, and Twitter founder Jack Dorsey.
A Billion-Dollar AI Moonshot Takes Shape
Upon closing its current funding round, xAI will have accumulated approximately $11 billion, positioning itself prominently in the competitive AI landscape. The imminent consumer app launch represents a significant milestone for Musk’s ambitious AI venture, signaling its intent to challenge established players in the generative AI market.
