Elon Musk's xAI company aims for $1 billion investment, already secures $134.7 million

Elon Musk's AI company, xAI, is making big plans to gather $1 billion in funds, according to a filing with the Securities and Exchange Commission, having already collected $134.7 million.

Established in April, xAI is Elon Musk's attempt to dive into the world of AI. The company's main goal, as mentioned on its website, is to understand the true nature of the universe.

They've introduced a chatbot called Grok AI to help with this mission. Grok AI uses real-time information from X (previously Twitter) for its responses.

Currently, it's available in early access for X's Premium Plus subscribers. Even though Grok and X are closely connected, xAI is a separate company from X Corp., which is X's parent company.

xAI recently filed with the Securities and Exchange Commission (SEC) to seek more investments. They've already secured a significant amount, and it looks like they have a deal for the rest of the billion-dollar funding.