Elon Musk listens as US President-elect Donald Trump speaks during a House Republicans Conference meeting at the Hyatt Regency on Capitol Hill on November 13, 2024 in Washington, DC.
Elon Musk's artificial intelligence company xAI is raising up to $6 billion at a $50 billion valuation, according to CNBC's David Faber.
The money will be used to acquire 100,000 Nvidia chips, per sources familiar with the situation.
Musk's AI startup, which he announced in July 2023, seeks to "understand the true nature of the universe," according to its website.
Last November, X.AI released a chatbot called Grok, which the company said was modeled after "The Hitchhiker's Guide to the Galaxy."
Persons:
Elon Musk, Donald Trump, CNBC's David Faber, Faber, Tesla, X.AI, OpenAI, Musk, Sam Altman, Google's Bard, Claude chatbot, Trump, Biden's
Organizations:
Republicans, Hyatt, Elon, Memphis, Google's
Locations:
Washington , DC