Elon Musk’s xAI startup seeks to raise $1 billion from equity investors

Elon Musk’s artificial intelligence company xAI is seeking to raise $1 billion in funding from equity investors, according to a new filing.

Musk has already raised nearly $135 million, according to a document filed Tuesday with the Securities and Exchange Commission, which doesn’t include the names of investors. Axios earlier reported on the filing.

Musk created xAI earlier this year to try to compete with other generative AI companies, including OpenAI, where Musk was a co-founder.