Venture Capital Firms Are Actually Considering Giving Elon Musk $6 Billion For xAI [Yahoo! Finance]
Tesla, Inc. (TSLA)
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Source: Yahoo! Finance
As people close to the fundraising told The Information , Musk is closing in on a first-round fundraising deal with potential investors including Sequoia Capital, which invested $800 million into Twitter when he bought it back in 2022. The insiders did not specify how much Sequoia plans to commit or which other firms might be involved in the fundraising, but the Financial Times and Bloomberg have also confirmed that Sequoia is committed, with the FT reporting that Musk invited the companies to get in on the ground floor before others start investing. The deal, as Bloomberg notes, would bring xAI's valuation up to $18 billion, which is not much less than that of Anthropic, another OpenAI rival created by exiles from the company that's valued at around $18.4 billion following its third round of fundraising earlier this year. Copy Cat As Musk seeks to build out his OpenAI competitor, he has also made comments mimicking his other rival's attempts to enter the AI space. Earlier
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- Elon Musk says there are too many non-technical managers at Boeing [Business Insider]Business Insider
- Wayve raises $1B to take its Tesla-like technology for self-driving to many carmakers [Yahoo! Finance]Yahoo! Finance
- VinFast's EV Ambitions Get a Reality Check as Shares Plunge 65% [BNN Bloomberg (Canada)]BNN Bloomberg
- Elon Musk says Warren Buffett should buy Tesla stock. Here's why he probably never will. [Yahoo! Finance]Yahoo! Finance
- Wayve raises $1 billion to take its Tesla-like technology for self-driving to many carmakers [TechCrunch]TechCrunch
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