The company xAI, operating in the field of artificial intelligence and owned by billionaire Elon Musk, has filed a request with the U.S. Securities and Exchange Commission to raise up to one billion dollars through issuing shares.
The filing with the Securities and Exchange Commission stated that the company has secured $134.7 million in funding for the shares, out of the total offer amount of one billion dollars.
Investments in AI startups remain a bright spot this year, following the launch of the popular chatbot robot ChatGPT by OpenAI last year.
OpenAI raised $10 billion from its strategic supporters Microsoft, yet regulators express concerns about the misuse of information.
In 2015, Elon Musk was involved in establishing OpenAI, which caused a sensation in the field of artificial intelligence, but he withdrew from the board in 2018.
