Elon Musk's AI Startup XAI Seeking Funding at $40 Billion Valuation

Elon Musk's AI startup XAI is reportedly seeking new funding at a valuation of $40 billion, a substantial increase from its previous valuation of $24 billion. The Wall Street Journal first reported on the deal, citing sources familiar with the talks. Musk aims to double XAI's access to compute, the crucial resource for AI, with plans to expand its facility in Memphis. Musk has been competing with OpenAI, the current AI leader, which is valued at $157 billion. Musk, a co-founder of OpenAI, has criticized its approach to building AI. The latest funding discussions for XAI are still in early stages and details could change. Musk made the announcement during a virtual appearance at a conference in Riyadh. This article is generated from an automated news agency feed without modifications to text.