Elon Musk denied a financing round in his AI start-up Xai.
Xai collects no capital at the moment, wrote Musk on Friday in a post on his platform X. Previously, CNBC and the news agency Bloomberg reported that Xai secured $ 10 billion in a financing round. The company was rated $ 200 billion (around 169.5 billion euros), according to Bloomberg, citing a person familiar with the situation. This would make Xai one of the most valuable start-ups worldwide. CNBC had previously reported that the transaction had been completed. Among investors are said to be Valor Capital, the Qatarian State Fund and the Saudi investment conglomerate Kingdom Holding.
Musk is trying to finance Xai in order to keep up in the race for artificial intelligence (AI). Large technology companies such as Openaai, Alphabet (Alphabet A (Ex Google)) and Meta (Meta Platforms (EX Facebook)) have already invested tens of billions of dollars for AI infrastructure and calculation centers. Musk also massively invested in these areas. Bloomberg reported at the beginning of the year that Xai would lose a billion dollars a month due to high infrastructure costs.
New York (dpa-Afx)
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