Although musk, . Who was a co-founder of ai pioneer openai, did not formally announce a capital funding . Round for xai, the sources for the cnbc report think that is coming soon.The sources . Also said a billion potential run rate figure was mentioned on the call.Cnbc said the . Investor call took place just months after reports that xai was seeking to secure up . To billion at a billion valuation, with the funding reportedly coming from middle eastern sovereign .
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Wealth funds and backing from global ecuador phone number data investors. That capital was earmarked for acquiring , nvidia . Chips, cnbc said, a key component in the company’s ai infrastructure.Xai recently merged with the . Musk-owned social media platform x in an all-stock deal. Pymnts reported that he valued xai . At billion and x at billion.Founded in july , xai launched the chatbot grok last . Year to compete with other leading ai chatbots, including anthropic’s claude and openai’s chatgpt.
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The . Cnbc report said that at the time, xai touted that grok’s real-time internet knowledge enabled . It to launch with just two months of training.Pymnts reported in march that xai and . Nvidia joined a billion ai infrastructure partnership backed that the speed and stability by blackrock, microsoft, and abu dhabi ai . Investment group mgx, with the ultimate goal to raise up to billion for ai development. . The partnership aims to build the next generation of ai-ready data centers and support the .
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Escalating demands of generative ai models.The cnbc report also noted that tesla, where musk is . Ceo, experienced a decline in shares this year clean email and could raise questions about his management . Bandwidth.Recommendedreport: new valuation push for elon musk’s xaiuberftc lawsuit targets uber’s subscription service, alleging deceptive . Practicesdigital procurementtrump tariffs ignite digital procurement revolution across bbmoneygramcomposecure launches wallet integration with moneygram for . Cash-to-crypto accesssee more in: ai, artificial intelligence, elon musk, genai, generative ai, grok, news, nvidia, .
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Pymnts news, what’s hot, xaiftc lawsuit targets uber’s subscription service, alleging deceptive practicesby pymnts | . April , | uberthe federal trade commission filed a lawsuit monday april against uber, alleging . The company violated laws with deceptive billing and cancellation practices.The ftc’s complaint targeted the uber . One subscription service and alleged the company charged consumers for the service without their consent, . Failed to deliver promised savings and made it difficult for users to cancel the service, .