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Home ยป Elon Musk Denies Report of $500M Funding for AI Startup

Elon Musk Denies Report of $500M Funding for AI Startup

Elon Musk xAI

A recent Bloomberg report claimed Elon Musk’s new AI company, xAI, had secured $500 million in funding toward a $1 billion goal. However, Musk was quick to refute this as “fake news” in a blunt tweet reply.

According to Bloomberg, anonymous sources stated that xAI was in discussions for $500 million in fresh capital from investors. This would reportedly value the still-stealthy startup at $15 to $20 billion.

But Elon Musk dismissed the report entirely with his response: “This is fake news from Bloomberg.” The Tesla and SpaceX CEO is no stranger to calling out incorrect media coverage of his many ventures.

Elon Musk Denies Report of $500M Funding for AI Startup

Musk had announced the formation of xAI last year following his purchase of Twitter and stated ambitions to make it “as broadly useful and harmless as possible.” However, concrete details on the artificial intelligence company remain scarce.

With Musk categorically denying this funding report, it appears Bloomberg’s sources were mistaken. While xAI will likely require substantial capital, any talks seem premature at this early stage.

This quick rejection of inaccurate reporting shows Elon Musk’s willingness to directly set the record straight. Until Musk himself provides information, details on his new AI startup should be taken with skepticism.

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