X.Ai, a startup founded by Elon Musk, has recently filed for equity funding of up to $1 billion, as stated in a regulatory filing on Tuesday.
To date, the company has already raised approximately $135 million, leaving a remaining amount of over $865 million, according to the filing. The minimum investment accepted from external investors is set at $2 million.
Under Musk’s guidance, X.Ai, which also operates under an official account on the social media platform X (formerly known as Twitter), was established earlier this year. The company is currently looking to expand its team, advertising open positions for engineers and an “AI tutor,” among others.
Last month, X.Ai introduced Grok, an AI chatbot described as having a “rebellious streak.” The chatbot is modeled after the beloved fictional guidebook from “The Hitchhiker’s Guide to the Galaxy,” designed to provide answers to almost any query and even suggest additional questions.
In line with its mission statement, X.Ai aims to develop artificial intelligence technology that will enhance scientific discovery. Although a separate entity from X Corp, it collaborates closely with X (Twitter), Tesla, and other companies to advance towards this goal.
