Musk’s X.AI Raises $1 Billion in Funding!

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Elon Musk-backed startup X.AI is seeking up to $1 billion in equity securities. The company, focused on artificial intelligence, has already raised $134.7 million and aims to sell an additional $865.3 million. The minimum investment per outside investor is $2 million. Musk, an executive officer and director, is joined by former Goldman Sachs executive Jared Birchall. This follows Musk’s April 2023 registration of X.AI as an AI startup, prompting some to create “X” tokens on various blockchains. Musk’s crypto involvement is closely watched due to his past support for Bitcoin and Dogecoin.