Elon Musk denies a recent report claiming his artificial intelligence company xAI raises fifteen billion dollars in a new series E round. He says the information shared by a television report is “false.”
The report claims the round adds five billion dollars to an earlier ten billion dollars and values the company at two hundred billion dollars. Musk also denies a previous report from the same outlet that says xAI is raising ten billion dollars.
When asked for comment on the latest claim, xAI appears to issue an automated reply that says “Legacy Media Lies.”
xAI continues to expand its data centre capacity as it works on more advanced models to compete with OpenAI’s ChatGPT and Anthropic’s Claude. The reported funds are said to be used for graphics processing units needed for large language models.
Investor interest in artificial intelligence firms remains strong even as worries grow about a possible AI bubble driven by high valuations and heavy spending.
Launched in July,2023, xAI also invests heavily in its own infrastructure. The company is buying property in Memphis Tennessee for its planned Colossus supercomputer.
The conflicting reports highlight the intense attention on fast-growing AI companies. While questions about funding remain, Elon Musk’s xAI keeps moving ahead with its projects as the race to build stronger AI systems continues.
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