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Elon Musk's xAI raised 10 billion dollars to compete with OpenAI.
Elon Musk's artificial intelligence company xAI has raised $10 billion in new capital to compete with OpenAI amid the increasing AI race. This funding will be used to expand the Colossus supercomputer and develop the Grok chatbot. This funding round is said to have exceeded demand, attracting many major investors.
Meanwhile, Musk and President Donald Trump have reignited the controversy. Trump criticized Musk on social media, claiming that he owes his success to government subsidies and calling for an investigation into Musk's businesses. Musk countered that he does not rely on federal support.
Additionally, Senator Cynthia Lummis has proposed an amendment to the tax bill aimed at ending the unfair tax treatment of cryptocurrency users.