Elon Musk's AI Company 'xAI' Seeks Investment... Valued at 55 Trillion Won

[Image source=Yonhap News]

Elon Musk, CEO of Tesla, is raising billions of dollars in investment for his artificial intelligence (AI) startup xAI, according to a report by The Wall Street Journal (WSJ) on the 29th (local time).

According to the report, xAI, which was recently valued at $40 billion (55 trillion KRW), is in talks with investors to raise billions of dollars in funding. This is only five months after xAI last raised funds, when it successfully secured $6 billion in investment. However, WSJ added, "Discussions about this funding are in the early stages, so terms may change or talks may break down."

xAI is an AI company founded by CEO Musk in July last year, and it launched an AI chatbot called 'Grok' in July last year. Grok operates on the social networking service X (formerly Twitter).

xAI is building what it claims to be the world's largest AI data center in Memphis, Tennessee, to train new versions of Grok. xAI uses data from X to train its AI models.

CEO Musk recently announced plans to increase the number of graphics processing units (GPUs) at the Memphis data center from 100,000 to 200,000. xAI uses the latest chips from Nvidia, a leading AI chip manufacturer.

This content was produced with the assistance of AI translation services.