Elon Musk’s artificial intelligence company, xAI, has filed with the US Securities and Exchange Commission (SEC) to raise to $1 billion through an equity offering.
The company, launched by Mr Musk in July, recently attracted $135 million from four investors, with the initial sale occurring on November 29.
xAI noted it aims to understand the universe’s real nature and unveiled a chatbot named Grok last month, designed with humour and a rebellious side.
The chatbot is positioned as a competitor to OpenAI’s ChatGPT, Google’s Bard technology, and Anthropic’s Claude chatbot.
Mr Musk, also involved in ventures like Tesla and SpaceX, allegedly acquired GPUs from Nvidia earlier this year for large language model development.
The AI firm clarified its separation from Musk’s other endeavours, including X (formerly Twitter), and emphasized collaboration with various companies.
The team behind xAI includes individuals from esteemed organizations like DeepMind, OpenAI, Google Research, Microsoft Research, Twitter, and Tesla.
The company, incorporated in Nevada in March, faced controversy when Musk’s antisemitic remarks led to advertisers suspending campaigns on X.