Elon Musk’s AI company secures $500 million toward $1 billion funding goal: report

Elon Musk’s artificial intelligence (AI) company, xAI, has secured $500 million in commitments from investors toward a $1 billion goal, Bloomberg News reported on Friday.

The artificial intelligence (AI) startup xAI is discussing a valuation of $15 billion to $20 billion, though terms could still change in the coming weeks, the report added, citing people familiar with the matter.