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Elon Musk’s AI Startup Seeks to Raise $1 Billion
  + stars: | 2023-12-06 | by ( Alexa Corse | )   time to read: 1 min
Elon Musk co-founded OpenAI, but later left the company after a dispute over its control and direction. Photo: Slaven Vlasic/Getty ImagesElon Musk’s artificial-intelligence company, xAI, is looking to raise $1 billion, according to a new SEC filing. Musk launched xAI in July, with the company saying its mission is “to advance our collective understanding of the universe.” Musk spent months recruiting researchers and has envisioned the new effort as becoming a rival to OpenAI, whose ChatGPT sparked an AI frenzy in the tech industry.
Persons: Elon Musk, Slaven Vlasic, Musk, ” Musk, OpenAI Organizations: Getty, Elon, SEC
CNBC Daily Open: Of billions and trillions
  + stars: | 2023-12-06 | by ( Shreyashi Sanyal | )   time to read: +2 min
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Dow Jones Industrial Average closed 0.22% lower, while the S&P 500 inched down 0.06% by the closing bell. It has so far raised nearly $135 million from four investors, with the first sale occurring on Nov. 29. As the year-end nears, CNBC Pro asked three fund managers for sectors — and stocks — they are bullish on in the lead-up to 2024.
Persons: Europe's, X.AI Elon, Bitcoin Organizations: CNBC, Dow Jones, Nasdaq, Apple, U.S, SEC, U.S . Department of Labor, Metrics, Big Tech, CNBC Pro Locations: U.S
Tuesday, a Palm Beach real estate broker testified on Trump's behalf that Mar-a-Lago is worth $1 billion. "If you have a dreamer, and a great American, I don't think that's a bad thing," the broker testified of his Palm Beach neighbor. "You have dozens and dozens of hand-carved cherubs" on the living room doors, Moens testified at one point. Former President Donald Trump's Mar-a-Lago resort in Palm Beach, Florida. The property is currently worth closer to $1.5 billion, Moens testified in the July deposition.
Persons: , Donald Trump's, Trump, Letitia James, Arthur Engoron, Lawrence Moens, Steve Wynn, Larry Ellison, Moens, James, , MAL, efferson,, artin, uther, roker, ines, ove y ou., ince, rees, J r., lew, orth, lon, ake Organizations: Mar, Trump, Service, New, New York, Palm Beach, ust, ives Locations: New York, York, Manhattan, Trump’s NY
Cape Canaveral in Florida. Photo: Miguel RodrÃGuez/Zuma PressHines is developing a sprawling industrial park near Florida’s Cape Canaveral, aiming to cash in on the booming aerospace industry. The giant Texas real-estate firm is betting that companies such as Jeff Bezos’ Blue Origin and Elon Musk’s SpaceX and their suppliers will pay high rents for warehouses and manufacturing space close to launch sites that can store rockets, space shuttles, satellites and any parts used to build and maintain them.
Persons: Miguel RodrÃGuez, Zuma Press Hines, Jeff Bezos Organizations: Zuma Press, Origin, Elon, SpaceX Locations: Cape Canaveral in Florida, Florida’s Cape Canaveral, Texas
Grimes alleged Elon Musk spent less than half his time in 2023 in Texas, in recent legal filings. Musk still spends two to three days a week in California, Grimes alleged. AdvertisementElon Musk — who moved Tesla's headquarters from California to Texas in 2021— has been spending less than half his time in the Lone Star State, Grimes alleged in recent legal documents. Musk quietly sued Grimes in Texas court in September to establish a "parent-child" relationship with the kids. While Grimes has said the child was with Musk in Texas over her objection, the details around the arrangement, and how she responded, are unclear.
Persons: Grimes, Elon Musk, Musk, , Elon, Claire Boucher, X, Christopher Melcher, Walzer Melcher, Tesla, Peter Walzer Organizations: Service, Lone Star State, Tau, Business, Musk, Street Journal, Montessori, Twitter, SpaceX Locations: Texas, California, Austin , Texas, Austin, Hawthorne , California, Brownsville , Texas, Bay Area . Texas, Starbase, SpaceX's, Boca Chica , Texas, Snailbrook, Boring, Bastrop , Texas, State, San Francisco, Palo Alto
Attendees inspect Smith and Wesson firearms at the National Rifle Association's (NRA) annual meeting, in Indianapolis, Indiana, U.S., April 28, 2019. Smith & Wesson, which is incorporated in Nevada, did not respond immediately to a request for comment. The group of nuns filed the lawsuit in their role as Smith & Wesson shareholders, in what is known as a derivative lawsuit. The nuns alleged that the directors of Smith & Wesson have ignored growing legal risks from making assault-style rifles. Smith & Wesson warned in its 2022 annual report that it might have to pay significant damages due to legal proceedings against the company.
Persons: Smith, Bryan Woolston, Jeffrey Norton, gunmakers, gunmaker Remington, Adrian Dominican, Bon, Francis of Philadelphia, Jesus, Tom Hals, Alexia Garamfalvi, Leslie Adler Organizations: Wesson, REUTERS, Smith, Tuesday, Smith & Wesson, Sandy, Elementary, U.S, Supreme, Adrian, Bon Secours, St, Jesus &, Thomson Locations: Indianapolis , Indiana, U.S, WILMINGTON , Delaware, Nevada, Colorado, Connecticut, New York , Illinois, California, Adrian , Michigan, Marriottsville , Maryland, Aston , Pennsylvania, Ontario Province, Marylhurst , Oregon, Wilmington , Delaware
Given its massive surge in popularity, the page about OpenAI’s virtual chatbot ChatGPT was the most viewed page on Wikipedia this year, amassing more than 49.4 million page views. The Wikipedia entry about the series drew more than 38 million page views. Virat Kohli of India bats during the ICC Men's Cricket World Cup India 2023 Final between India and Australia at Narendra Modi Stadium on November 19, 2023 in Ahmedabad, India. The page for the league itself received more than 32 million views and the 2023 season receiving more than 20 million views. Chris Pizzello/APThe Oppenheimer film received more than 28 million page views, the page about real-life physicist J. Robert Oppenheimer himself received 25.6 million views while the Barbie film received 18 million.
Persons: New York CNN —, ChatGPT, , Anusha Alikhan, Alikhan, It’s, “ Oppenheimer, Virat Kohli, Narendra Modi, Gareth Copley, Jawan, Pathaan ”, Barbie ”, ” Barbie, Oppenheimer, Chris Pizzello, J, Robert Oppenheimer, Taylor Swift, Elon Musk, Lionel Messi, Andrew Tate, misogynist influencer, Tate, Barbie, Cristiano Ronaldo, Matthew Perry, Lisa Marie Presley Organizations: New, New York CNN, New York CNN — Wikipedia’s, Wikimedia Foundation, CNN, Indian Premier League, Cricket, , United Nations, Internet, Mobile Association of India, eventual, Australia, ICC Men's Cricket, Narendra, Getty, Men’s Cricket, Warner Bros, Los Feliz Theatre, Major League Soccer, Inter Miami, Premier League Locations: New York, ” India, India, United States, United Kingdom, China, Australia, Ahmedabad, Wikipedia’s, Los Angeles, Gaza, Ukraine, Hamas, Israel, Romania, ChatGPT, Water
Elon Musk's Cybertruck apocalypse
  + stars: | 2023-12-05 | by ( Adam Rogers | )   time to read: +8 min
In most regards, the sales pitch for Tesla's new Cybertruck doesn't differ in its particulars from the value proposition of any other pickup or SUV. But unlike the Cybertruck, its sales pitch has a curve: Musk has said all along that it's designed to be your go-to vehicle for the End of the World. "The apocalypse could come along at any moment, and here at Tesla we have the finest in apocalypse technology." If you believe in an apocalypse with trucks, you must also believe that someone will be maintaining the necessary infrastructure. In the early 20th century, when cars first came within financial reach of average Americans, the sales pitch focused on freedom of movement.
Persons: Elon, Musk, , It's, cofound, Ursula K, Le Guin, Ken Liu, Mike Pondsmith, Adam Rogers Organizations: SpaceX, Insurance Institute for Highway Safety, Cooperation Locations: Francisco, Megacity
Tesla faces a wave of strikes in Sweden, with unions calling for better pay and benefits. Elon Musk called the strikes, which have disrupted deliveries, "insane" in a post on X. Now they are spreading to Denmark, with Danish dockworkers also refusing to unload Tesla's EVs. AdvertisementTesla is embroiled in a growing battle with unions in Europe after the wave of strikes impacting the company in Sweden spread to Denmark. AdvertisementNine other Swedish unions have joined the strike in solidarity, with dockworkers refusing to unload Tesla's cars at ports and electricians refusing to repair the company's charging stations .
Persons: Tesla, Elon Musk, Danish dockworkers, , Jan Villadsen Organizations: Danish, Service, Reuters, Sweden's Transport Agency, Denmark aren't, United Auto Workers, UAW, Business Locations: Sweden, Denmark, Europe, Danish, Swedish, Sweden's
AdvertisementEveryone has theories about why Elon Musk publicly insulted and threatened Twitter/X advertisers last week. (And anyone who works there — or at any other company — would be fired for saying what Elon said last week). I also think Elon wants to suggest that we should be able to say whatever we want without any consequences—and even that there is a Constitutional right for us to do this. I also, respectfully, don't think Elon really thinks that. I don't think even Elon would enjoy that!
Persons: , Elon Musk, Katie Notopoulos, Katie doesn't, Elon, Tesla Organizations: Service, Elon, Twitter, Business, Tesla
SpaceX could attempt a key demonstration for NASA during the third test flight of its towering Starship rocket, according to the federal agency. The propellant transfer demonstration would require that the rocket reach orbit as one of the demo's goals. "NASA and SpaceX are reviewing options for the demonstration to take place during an integrated flight test of Starship and the Super Heavy rocket. However, no final decisions on timing have been made," NASA spokesperson Jimi Russell said in a statement to CNBC. SpaceX CEO Elon Musk said shortly after November's flight test that hardware for a third Starship launch "should be ready to fly in 3 to 4 weeks."
Persons: SpaceX's, Jimi Russell, Elon Musk Organizations: Boca Chica, SpaceX, NASA, Super, CNBC, Federal Aviation Administration Locations: Brownsville , Texas, U.S
Elon Musk believes that Tesla has the "best real-world AI," which powers its self-driving tech. Whistleblower Lukasz Krupski told BBC News that the Autopilot feature wasn't ready for public use. "It affects all of us because we are essentially experiments in public roads," he told BBC News. A lawyer representing Tesla told the newspaper that Krupski was a "disgruntled former employee," and said he abused his position to release the material. Some documents leaked to The Handelsblatt had recorded accidents that occurred when using Tesla's Autopilot feature, first released in 2015.
Persons: Elon Musk, Tesla, Lukasz Krupski, , Elon, doesn't, Krupski, Kruspki, he'd Organizations: BBC News, Service, Tesla, New York Times, BBC, Business Locations: Oslo, Norway
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla's Cybertruck will be 'the most impactful vehicle' people have seen: Ross GerberRoss Gerber of Gerber Kawasaki shares his excitement over Tesla's Cybertruck launch and says he would like to see Elon Musk "run Tesla full-time".
Persons: Ross Gerber Ross Gerber, Gerber, Elon Organizations: Gerber Kawasaki
London CNN —Danish dockworkers and drivers are threatening to stop transporting Teslas to neighboring Sweden if the carmaker does not reach a deal with striking Swedish workers within two weeks. It is the first time a labor union outside of Sweden has threatened industrial action against Tesla in solidarity with the Swedish workers. “IF Metall and the Swedish workers are fighting an incredibly important battle right now. About nine out of 10 workers in Sweden and more than eight in 10 in Denmark are covered by such agreements. At least three attempts to organize by Tesla workers in the United States have failed, mainly as a consequence of aggressive tactics by the company and weak protections for labor in the country.
Persons: , Tesla, Jan Villadsen, IF Metall, ” IF Metall, Anu Hietala, Elon Musk, , Organizations: London CNN, Danish, IF Metall, CNN, IF, ” IF, Denmark’s, Nordic, Nordic Transport Workers ’ Federation, New York Times Locations: Sweden, Swedish, dockworkers, Finland, Norway, Stockholm, Denmark, United States
REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsDec 5 (Reuters) - Elon Musk's artificial intelligence startup xAI has filed with the U.S. securities regulator to raise up to $1 billion in an equity offering, according to a filing on Tuesday. In a Twitter Spaces event earlier in the year he said that rather than explicitly programming morality into its AI, xAI will seek to create a "maximally curious" AI. The billionaire, who has criticized Big Tech's AI efforts as ridden with censorship, in July launched xAI, calling it a "maximum truth-seeking AI" to rival Google's (GOOGL.O) Bard and Microsoft's Bing AI. In 2015, Musk co-founded OpenAI, the company behind ChatGPT, which has created a frenzy for generative AI technology around the world, but stepped down from the board in 2018. The team behind xAI, which launched in July this year, comes from Google's DeepMind, the Windows parent, and other top AI research firms.
Persons: Elon Musk, Porte, Gonzalo Fuentes, xAI, Google's, Bard, Microsoft's Bing, XAI, Musk, Google's DeepMind, Akash Sriram, Jaiveer, Arsheeya Bajwa, Shailesh Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, Elon, Securities and Exchange Commission, Microsoft Corp, Regulators, Thomson Locations: Paris, France, Bengaluru
In today's big story, we're looking at the rising similarities between Target and Walmart. Dominick Reuter/Business InsiderIf imitation is the sincerest form of flattery, Walmart and Target are embarking on some serious tributes to each other. AdvertisementTwo of the country's largest retailers are taking pages from each other's playbooks as they adjust to a changing economic landscape. And Walmart founder Sam Walton openly admitted he stole borrowed plenty of ideas from Sol Price, the originator of the wholesale club model. That's led Walmart to see an increase in higher-income clientele, a trend they're leaning into.
Persons: , Dominick Reuter, Insider's Dominick Reuter, Dominick, Christina Hennington, it's, Sam Walton, Sol Price, That's, Charlie Flanagan, Management's Bryan Kelly, Li Deng, Mike Schuster, Sam Altman Andrew Caballero, Reynolds, Daniel Ek, Slaven Vlasic, Rebecca Zisser, Elon, Zers, Xochitl Gomez, Alyson Hannigan, Jason Mraz, Charity Lawson, Ariana Madix, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Target, Walmart, AQR, Investments, AQR Capital Management, Vatic Investments, Sigma, Investment, Barclays, ING, MSCI Israel, Tel, Tel Aviv Stock Exchange, Israel Securities Authority, Reuters, Broadcom, VMware, The New York Times, Inc, Adobe, ABC, Major, Baseball, MLB Network Locations: Israel, Tel Aviv, New York City, San Diego, London, New York
Elon Musk wants to raise up to $1 billion for his AI startup xAI, according to an SEC filing. AdvertisementElon Musk is looking to raise up to $1 billion to help fund his AI startup xAI. And this isn't Musk's first foray into AI: Years before the billionaire launched xAI, Musk actually cofounded OpenAI with Sam Altman in 2015. But in 2018, Musk left OpenAI because his offer to run the company was rejected, he's said. It comes as there's a lot of money sloshing around AI: OpenAI has reportedly been seeking a share sale that could value it at $90 billion.
Persons: Elon Musk, xAI, , Elon, ChatGPT, Bard, Meta, Grok, Twitter —, Musk, Sam Altman, he's, Altman, OpenAI, xAI didn't Organizations: SEC, Service, Microsoft, Google, Twitter, Securities and Exchange Commission Locations: , OpenAI
Elon Musk speaks onstage during The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center on November 29, 2023 in New York City. X.AI, an artificial intelligence startup founded by Elon Musk, has filed with the SEC to raise up to $1 billion in an equity offering. The AI startup, which Musk announced in July, seeks to "understand the true nature of the universe," according to its website. Last month, X.AI released a chatbot called Grok, which the company says is modeled after "The Hitchhiker's Guide to the Galaxy." — CNBC's Lora Kolodny contributed to this reportWATCH: Elon Musk's X.AI launches 'Grok'
Persons: Elon Musk, Musk, X.AI, didn't, OpenAI, Sam Altman, Google's Bard, Claude chatbot, Tesla, They've, DeepMind's AlphaCode, OpenAI's, — CNBC's Lora Kolodny, Elon Musk's X.AI Organizations: New York Times, Jazz, Lincoln Center, Elon, SEC, Google's, Nvidia, SpaceX, Boring Company, X Corp, DeepMind, Google Research, Microsoft Research, Twitter, Tesla, X.AI Locations: New York City, Nevada
The first trailer for Grand Theft Auto 6 finally arrived on Monday — but Elon Musk isn't a fan. He said he didn't finish GTA 5 as he couldn't bring himself to shoot virtual police officers. GTA 5 is one of the most popular video games of all time, selling 190 million copies since 2015. AdvertisementThe internet is on fire after the first trailer for Grand Theft Auto 6 finally dropped — but Elon Musk is unlikely to be picking up a copy when the game comes out in 2025. AdvertisementThe trailer for Grand Theft Auto 6 was released on Monday, a day earlier than planned after it was leaked on social media .
Persons: couldn't, , Elon Musk, Musk, Musk's Organizations: Elon, Service, phenomenally, SpaceX, New York Times Locations: Miami
COPENHAGEN, Denmark (AP) — The labor conflict against Tesla in Sweden is spreading to neighboring Denmark where transport workers with the country’s largest trade union said Tuesday they will take action in solidarity with Swedish workers against the Texas-based automaker. Tesla is non-unionized globally, but the Swedish workers are demanding that the carmaker sign a collective bargaining agreement, which most employees in Sweden have. “Concretely, this means that dock workers and drivers will not receive and transport Tesla’s cars going to Sweden,” 3F said in a statement. Swedish mechanics stopped servicing Tesla cars and several unions, including postal workers, have joined in a wave of solidarity with IF Metall’s demands. Dockworkers at Sweden’s four largest ports also stopped the delivery of Tesla vehicles to put more pressure on the automaker.
Persons: Tesla, , ” Jakob Lykke, ” Lykke, Jan Villadsen, ” Villadsen, Dockworkers, Elon Musk Organizations: Tesla, The United Federation of Workers, IF Metall, IF Metall’s, Sweden’s Transport Agency Locations: COPENHAGEN, Denmark, Sweden, Texas, Esbjerg, Denmark’s, Danish, Swedish, Scandinavian
SpaceX has said it employed more than 1,800 people at Starbase, jobs that supported thousands of others, and that it was proud to be an active part of the community. It didn’t respond to requests for comment. Workers prepare the SpaceX Starship ahead of a launch on April 18, 2023. Photo: Patrick T. Fallon/AFP/Getty
Persons: Patrick T, Fallon Organizations: SpaceX, Workers, Getty Locations: Starbase, AFP
The next Tesla after Cybertruck will be more affordable, Musk said. Musk said his company is "quite advanced" in its work on the affordable Tesla, and that he is reviewing production plans weekly. "The revolution in manufacturing that will be represented by that car will blow people's minds," Musk said. "It is not like any car production line that anyone's ever seen." Many car companies have responded to this change in demand by pulling back production plans while dealers lather on discounts to move these cars off their lots.
Persons: Musk, Tesla, , Elon Musk, Sandy Munro, Munro Organizations: Texas, Service, YouTube, EV, Ford, Tesla Locations: Mexico, Detroit
BEIJING/SHANGHAI, Dec 4 (Reuters) - Sales of U.S. automaker Tesla's (TSLA.O) China-made electric vehicles (EVs) skidded 17.8% in November from the same month a year earlier, to 82,432 cars, China Passenger Car Association (CPCA) data showed on Monday. That marked the biggest fall since December 2022 when Tesla's sales of China-made EVs fell 21% on the year as the U.S. automaker reduced output and cut prices to deal with rising inventories and weakening demand. Xi expressed his support for Tesla's development in China, the automaker said in a Weibo post. Li Auto (2015.HK) last month said mass production and delivery of its first full EV are scheduled for February. Smartphone maker Xiaomi (1810.HK) has also moved closer to EV production, with a unit of automaker BAIC Group (1958.HK) applying for regulatory approval to build two Xiaomi-branded cars.
Persons: Tesla's, EVs, BYD, Tesla, Elon Musk's, Musk, Xi Jinping, Xi, Li Auto, Qiaoyi Li, Zhang Yan, Brenda Goh, Bernadette Baum, Kirsten Donovan Organizations: U.S, China Passenger Car Association, APEC, Reuters, Li, HK, BAIC Group, Thomson Locations: BEIJING, SHANGHAI, China, San Francisco, Weibo
Elon Musk once told DeepMind's Demis Hassabis about his plans to colonize Mars, per NYT. But Musk was left dumbfounded after Hassabis said that AI might destroy his colonies on Mars. Hassabis told Musk that the plan would work if artificial intelligence didn't make the trip to Mars. According to Hassabis, AI being in the mix would lead to the human colony's destruction, too. In March, Musk told a Tesla shareholder during the company's investor day that he was "a little worried about AI stuff."
Persons: Elon Musk, DeepMind's, Musk, Hassabis, , Demis Hassabis, he'd, Peter Thiel —, OpenAI's, DeepMind Organizations: Service, Elon, The New York Times, The Times, SpaceX, Google, Musk, Business Insider Locations: Mars, DeepMind
Elon Musk said OpenAI needed to be quicker with its work before departing from the company, per NYT. Musk left OpenAI in 2018, citing a conflict of interest with his work at Tesla. AdvertisementElon Musk had some choice parting words for OpenAI's staff before he left the company in 2018. The billionaire cofounded the AI company in 2015 but left in 2018, citing a conflict of interest with his work at Tesla. The researcher told Musk that Musk's suggestion was impulsive and overhasty, per The Times.
Persons: Elon Musk, Musk, , pushback, he's, Steve Wozniak, Evan Sharp, Grok, OpenAI Organizations: Tesla, Service, The New York Times, The Times, Times, Fox News, Musk, Business Insider
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